Ply Gem Reports Fourth Quarter and Full Year 2012 Results

CARY, N.C.–(BUSINESS WIRE)– Ply Gem Holdings, Inc. (“Ply Gem” or the “Company”), a leading manufacturer of exterior building products in North America, today announced financial results for the fourth quarter and full year ended December 31, 2012.

“Ply Gem‘s fourth quarter and full year results reflect the Company’s positive performance in 2012 in an improving housing market, specifically for new construction. During 2012, Ply Gem achieved net sales growth of 8.4% compared to 2011. Ply Gem continues to demonstrate its ability to grow existing and new customer business that will further benefit the Company as the housing market continues to recover. Ply Gem reported an increase in its fourth quarter Adjusted EBITDA which improved to $24.7 million, bringing our 2012 full year Adjusted EBITDA to $124.7 million as compared to $112.2 million in the prior year,” said Gary E. Robinette, President and CEO of Ply Gem.

“As we go into 2013, we expect the new home construction market to show strong growth and anticipate the repair and remodeling market to demonstrate more modest growth, with big ticket remodeling expenditures continuing to lag. In the year ahead, we will continue our focus on maintaining a lean overall cost structure while striving to outperform the market across all of our product categories and continue our efforts to bring innovative products and solutions to the market place.” concluded Mr. Robinette.

Highlights of Ply Gem‘s 2012 financial results included:

• Net sales for 2012 were $1,121.3 million, higher than 2011 net sales of $1,034.9 million by $86.4 million, or 8.4%.
• Operating earnings for 2012 increased by $25.1 million to $70.0 million compared to operating earnings of $44.9 million for 2011, reflecting increased sales.
• Our 2012 Adjusted EBITDA was $124.7 million compared to Adjusted EBITDA of $112.2 million in 2011.

Ply Gem, headquartered in Cary, N.C., is a leading manufacturer of exterior building products in North America. Ply Gem produces a comprehensive product line of vinyl siding, designer accents and skirting, vinyl fencing and vinyl and composite railing, stone veneer and vinyl windows and doors used in both new construction and home repair and remodeling in the United States and Western Canada. Ply Gem siding brands include Mastic Home Exteriors^®, Variform^®, NAPCO^®, Ply Gem^® Stone, Kroy^®, Cellwood^®, Georgia Pacific, DuraBuilt^®, Richwood^®, Leaf Relief^®, Gutter Warrior^™ and Monticello^® …read more
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