Residential windows and doors maker PGT (PGTI) 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.
