Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of window and door maker PGT (NASDAQ:PGTI) jumped as much as 11% today after the company released earnings.
So what: First quarter revenue jumped 30% from a year ago, to $49.6 million, and adjusted net income was $3.2 million, or $0.06 per share. Analysts were only expecting $45.7 million in revenue, and $0.03 in earnings per share.
Now what: The company's impact products drove sales growth with the segment up 39% from a year ago. These were strong results, and industry conditions should continue to improve this year as the economy recovers. I'm not a buyer today simply because shares are trading at 25 times forward estimates, a steep price for a company barely swinging into profitability.
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