Sales rise at Ply Gem
Ply Gem Holdings, a manufacturer of exterior building products, reported net sales of $242.4 million for its fourth fiscal quarter, a 3.9% increase over sales of $220.5 million in the fourth quarter of 2010.
Net loss for the quarter, which ended Dec. 31, 2011, was $15.2 million, compared with $19.6 million in the same period a year ago. Operating earnings for 2011 decreased by $11.9 million to $44.9 million compared with operating earnings of $56.8 million for 2010, reflecting increased commodity costs that were not fully offset within the year and higher selling, general and administrative expense.
The Cary, N.C., company reported annual net sales of $1.03 billion for 2011, a 3.4% rise over net sales of $995.9 million for fiscal 2010.
"Our fourth-quarter 2011 sales were up 9.9% over the same period in 2010, and sales for the first two months of 2012 have been even stronger relative to the same period in 2011,” said Gary Robinette, president and CEO of Ply Gem. “However, it is still too early to tell how much of the positive performance may be attributable to the favorable weather conditions that have been experienced across much of the country. As such, we will continue our focus on maintaining a lean overall cost structure while striving to outperform the market across all of our product categories.”