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Parent company’s earnings reflect ‘improving market conditions’
Sunday, March 17, 2013
Ply Gem Holdings, the parent company of Ply Gem Industries , is a private company, with a private-equity firm and its affiliates as majority stockholders. But it has publicly held debt and thus files earnings and other reports with the U.S. Securities and Exchange Commission .
A year ago, Ply Gem Holdings reported earnings for the company’s fourth quarter and fiscal year ended Dec. 31, 2011. The company described net sales of more than $1 billion for the year but a loss of more than $84.5 million during the 12-month period. In a news release, Gary Robinette , president and CEO of Ply Gem, said then that the full-year results continued “to reflect the challenging conditions that exist in the housing market today.”
By press time, Ply Gem Holdings had not yet announced its results for its fourth quarter and fiscal year ended Dec. 31, 2012.
But earnings reported for the company’s third quarter and nine months ended Sept. 29, 2012, reflected what Robinette described as “improving market conditions in the residential new construction market.” Net sales for the nine-month period were about $852.7 million, up by about $60.2 million when compared with the same period in 2011. The company reported a loss of about $24 million during the first nine months of 2012.
— Duncan Adams
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