12.05.2014 12:50:03
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Ply Gem Holdings Q1 Loss Widens - Quick Facts
(RTTNews) - Ply Gem Holdings Inc. (PGEM) said that its first-quarter 2014 net loss widened to $51.58 million or $0.76 per share from $28.11 million or $0.57 per share in the year ago quarter.
Net sales increased 4.8% to $269.5 million from $257.1 million for the first quarter of 2013.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.43 per share and revenues of $274.37 million for the quarter. Analysts' estimates typically exclude special items.
"As we look ahead and our volumes increase, we expect to generate meaningful operating leverage. Despite this near-term deceleration in the market, the long-term outlook for the U.S. housing market remains positive. The opportunity ahead of us is really about recapturing margin in our Windows and Doors segment as that continues to scale as volume expands, regional builders become more active in the market, and pricing discipline returns.......I remain confident in our ability to deliver the $15.0 to $20.0 million of cost savings and synergies from our Gienow and Mitten acquisitions as well as our overall growth prospects," said Gary Robinette, Ply Gem's President and CEO.
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