Ply Gem posts 19.5% sales gain
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.
President and CEO Gary Robinette predicted that the recovery will be “slow and choppy for some time.” Because of this, “Ply Gem will continue to focus on maintaining a lean overall cost structure while striving to outperform the market across all of our product categories,” Robinette concluded.
“Our first-quarter net sales growth of 19.5% demonstrates our ability to continue to take profitable market share as well as improved market demand for our products,” Robinette said.