ufpi +8 to 72

Shares of Universal Forest Products (UFPI:Nasdaq - commentary - research - Cramer's Take) climbed in after-hours trading Monday after the building materials company beat Wall Street's first-quarter earnings expectations.

The company earned $15.9 million, or 82 cents a share, compared with $9.2 million, or 49 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting the company to post earnings of 63 cents a share. Revenue rose 24% to $665.6 million, surpassing Wall Street's expectation of $573 million. In light of the first-quarter results, Universal Forest Products raised its full-year earnings growth target to 15% to 20% from 10% to 15%. The company reaffirmed its unit sales projection for 10% to 15% growth in 2006. Shares rose $4.30, or 6.7%, to $68.25 in after-hours trading.