VENICE, Fla., Feb. 24, 2011 (GLOBE NEWSWIRE) -- PGT, Inc. (Nasdaq:PGTI), the leading U.S. manufacturer and supplier of residential impact-resistant windows and doors, announces financial results for the fourth quarter ended January 1, 2011. In the fourth quarter:
- Net sales were $39.0 million, an increase of $3.0 million, or 8.4%, over prior year fourth quarter;
- Net loss was $12.2 million compared to prior year net income of $301 thousand in the fourth quarter of 2009;
- Non-cash impairment charges totaled $5.6 million compared to the prior year fourth quarter amount of $0.7 million. The current year impairment relates to the scheduled closing of our North Carolina plant. Consolidation charges totaled $2.1 million in the fourth quarter of 2010. Restructuring charges totaled $1.5 million in the prior year fourth quarter.
- Adjusted net loss was $4.6 million compared to an adjusted net income of $2.5 million in the prior year fourth quarter. Adjusted net loss per diluted share of $0.09 compared to an adjusted net income per diluted share of $0.07 per share in 2009; and
- Adjusted EBITDA was $228 thousand, compared to adjusted EBITDA of $2.9 million in the prior year fourth quarter.