PGT in-Line on the Bottom Line

Windows and doors maker continues to see conditions improving in the housing market

By Rich Duprey – Oct 31, 2013 at 10:46AM EST

Residential windows and doors maker PGT (PGTI +0.00%) reported third-quarter results yesterday after the markets closed, showing that it posted net sales of $64.9 million, a robust 45% increase from the year-ago period, and well ahead of the $58.5 million Capital IQ consensus estimate.

While adjusted net income came in at $6.4 million, or $0.13 per share, 137% higher than the $2.7 million, or $0.05 per share, in the same period in 2012, it was right in-line with the CapIQ estimates.

PGT says it benefited from improving market conditions that drove sales of its impact-resistant products with repair, remodel, and new construction markets all seeing gains.

The windows and doors maker didn't provide guidance for the coming quarter, but analysts anticipate PGT will post earnings of $0.11 per share in the fourth quarter on revenues of $53.4 million.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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PGT in-Line on the Bottom Line

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