Net sales for the fiscal first quarter ended July 31, 2018 increased 21.2% to a record $778.1 million from $642.2 million for the fiscal first quarter ended July 31, 2017. Reported net income decreased to $8.7 million, or $0.20 per diluted share, compared to $15.3 million, or $0.36 per diluted share.

At a seasonally adjusted annual rate of $708.1 billion, new construction starts in February slipped 3 percent from the previous month, according to Dodge Data & Analytics.