GRAND RAPIDS, Mich., June 29, 2016 (GLOBE NEWSWIRE) -- Universal Forest Products, Inc. (Nasdaq:UFPI) has been named by Forbes magazine as the best performing company in Michigan, based on total returns. For the rating, Forbes tracked every publicly traded company, selecting the top performer in each of the 50 U.S. states by evaluating their returns from June 8, 2015, to June 8, 2016 (with the exception of companies that did not trade for the entire period). Universal had a total rate of return of 65.6 percent.
“We’re grateful for the recognition of the hard work of our people, who create success at the Universal family of companies,” said CEO Matthew J. Missad. “We know this is just a point in time, and we continue to be focused on creating new products and services in order to keep delivering good returns for our shareholders, employees and all of our stakeholders.”
UNIVERSAL FOREST PRODUCTS, INC. (NASDAQ:UFPI)
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries in three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America and Australia. It posted annual net sales of $2.9 billion in 2015. For more about Universal Forest Products, go to www.ufpi.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.
---------------AT THE COMPANY--------------- Lynn Afendoulis Director, Corporate Communications (616) 365-1502
Source:Universal Forest Products, Inc.