PGT Reports Strong Third-Quarter ResultsNovember 3rd, 2016 by Editor
PGT Inc. reported this week that net sales for the third quarter of 2016 hit $129.8 million, an increase of $29.1 million, or 29 percent, from the same period last year.
Adjusted net income was $9.7 million, compared to $7.9 million in the third quarter of 2015. Earnings per share were 19 cents vs. 16 cents in the same period last year.
“We delivered another period of solid financial and operating performance in the third quarter,” said PGT’s chair and CEO, Rod Hershberger. “We grew revenue, gross margin and net income on both a sequential and year-over-year basis, which was the result of sales and profitability from both of our acquired businesses, CGI and WinDoor, as well as from our legacy business, PGT Custom Windows & Doors. Our strategic priorities remain focused on our three brand go-to-market strategy, continuing to drive product innovation and accretive acquisitions. Our consistent strong performance is a direct result of our team’s ability to effectively execute these strategies.”
Hershberger said he anticipates some slight impacts on PGT’s bottom line in the fourth qaurter from Hurricane Matthew because of a two-week disruption in business for the company’s East Coast customers.