This is a very strong result in a weak market. I would suggest the market has sold this off leading up to this result over concerns in the wide guidance range given by management.
It's pleasing to see the North American segment showing growth in both Gross Profit and sales. Market was worried about competition in this area from another major targeting large building companies.
Europe looks like it's recovering well.
Asia Pac has been a real drag, which was anticipated however they are still making good margins (although weakened) and a recovery is likely in the next 12 months. We seem to be a bit behind other regions in our cycle.
This is a U.S growth story and the U.S looks fantastic on these numbers.
Should see a good pop today, and if not I'll be happy to buy.
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