This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PGT's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Our WinGuard sales increased in new construction markets by $1.8 million and in the remodeling markets by $1.9 million over 2011. These areas of growth reflect improving market conditions including increased housing starts mainly in the Southwest region of Florida, and targeted efforts to increase share in both Southeast and Southwest Florida.

We did experience floor sales in our non-impact products of $600,000 and our Architectural Systems products decreased by $900,000 primarily driven by the completion of some large projects. Another EBITDA contributor was our gross margin improvement, for the second quarter of 2012, our gross margin was 35.5% compared to 19.9% for the second quarter of 2011, which after adding back consolidation charges and manufacturing inefficiencies, would have been 29.9%.

The increase of 5.6% in gross margin in 2012, was driven by a significant reduction in scrap, mixed improvements and consolidation savings. SG&A cost for the second quarter of 2012, decreased $400,000 or 3% after adjusting for consolidation costs from the prior year. This was driven by consolidation savings of $1 million and $200,000 in decrease in warranty costs offset with an increase of $800,000 in employee benefit costs.

Within our core market, total housing starts were up 41% for the second quarter of 2012, when compared to 2011. Single-family starts were up 29% compared to a year-ago. Our growth in housing starts is encouraging, as reminder, this growth is off a very low base.

Results for the first six months of 2012, include; sales down 1.4% from the prior year, primarily from exiting certain out-of-state markets, gross margin percentage of 33.6%, net income of $3 million EBITDA of $11.1 million.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs