Lowe’s reported net earnings of $527 million for the quarter ended May 4, 2012, a 14.3% increase over the same period a year ago. 

Sales for the quarter increased 7.9% to $13.2 billion from $12.2 billion in the first quarter of 2011.

Comparable store sales for the quarter increased 2.6%, while comparable store sales for the U.S. business increased 2.7%.

A May 16 report from the Mortgage Bankers Association added another bright note to the housing market, with the percentage of U.S. homeowners behind on their mortgages falling to the lowest level since 2008. The delinquency rate for residential mortgage loans decreased 7.4% during the first quarter of 2012.

Foreclosures are not improving at the same rate, however. The percentage of loans in the foreclosure process as of March 31, 2012 was 4.4%, relatively unchanged from the previous quarter and down one basis point from 4.5% a year ago.

Forest products supplier Weyerhaeuser has announced a mail-in rebate program for building industry professionals this summer on several of its oriented strand board (OSB) products. The company is offering $3.00 cash back per panel of 7/8-in. or thicker of Weyerhaeuser Edge Gold flooring (or $1.50 for each 23/32-in. panel), and $1.00 per panel of Weyerhaeuser Radiant Barrier Sheathing (RBS) -- up to 100 panels for each product line. Building material dealers also can earn rebates of $0.25 per panel, up to $250 total for Edge Gold flooring and up to $100 total for RBS. 

National Nail Corp. said its CAMO Hidden Deck Fastening System is now at more than 300 Home Depot stores, plus HomeDepot.com. 

"We are excited to have The Home Depot offering the CAMO Hidden Deck Fastening System to their professional deck builders and homeowners," said W. Scott Baker, president and CEO of National Nail Corp. "Being in the aisle at The Home Depot validates what we believe -- that CAMO is a unique deck fastening solution.”

Anderson, S.C.-based Delta Power Equipment introduced four new sanders. The new sanders include a 26-in. Dual Drum Sander, Model 31-481; a 6-in. by 89-in. Oscillating Edge Sander, Model 31-482; a Heavy Duty Oscillating Bench Spindle Sander; Model 31-483; and a Heavy Duty Oscillating Spindle Floor Sander, Model 31-484.

Delta is also introducing more than 95 abrasive SKUs to support these new sanders, and all sanders, with high-quality, long-lasting sanding products, including sleeves, belts, discs and strips.

Starting May 16, home builders in the city of Ketchum, Idaho, will need to start following the National Green Building Standard, developed by the National Association of Home Builders (NAHB) and the International Code Council, according to an article in the Idaho Mountain Express.

Dallas-based pro dealer Builders FirstSource has announced a new location in Clarksville, Tenn., approximately 40 miles northwest of Nashville. The facility is situated on five acres and includes a 25,000-sq.-ft. warehouse. It will offer lumber, engineered I-joist systems, roof and floor trusses, windows, doors, millwork and various other building products and materials. The scheduled opening date is in early June.

CEO Floyd Sherman said the company is looking forward to expanding its footprint in northern Tennessee and southern Kentucky.

The 2012 crop of Home Channel News Hardware Store All-Stars marks the second year of the state-by-state accounting of high-performance retailers. The common theme of “excellent customer service” runs through the entire list, but that’s just the beginning.

Here are the honorees from Georgia, Hawaii and Idaho:

Ply Gem, a manufacturer of windows, siding, and other exterior building products, reported net sales of $239.2 million for its first fiscal quarter of 2012, a 19.5% increase over net sales of $200.1 million during the same period in 2011. 

Earnings during the first quarter were $1.2 million compared with a $7.6 million loss for the first quarter of 2011, after excluding $6.7 million of inventory buyback expense in 2011 associated with a significant new customer.  

Hoffman Estates, Ill.-based Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.

Builder confidence in the market for newly built, single-family homes reached its highest level since May 2007, reaching a level of 29 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is a gain of five points from the previous month, which was downwardly revised.

Home Depot’s Craig Menear, executive VP merchandising, shared details and data from a first quarter that saw double-digit comps in certain seasonal product categories.

Overall, Home Depot saw comp-store sales increase 5.8% in the first quarter of strong sales and earnings growth.