PGT Innovations, Inc. (NYSE: PGTI), manufacturer of windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced financial results for its first quarter, which ended March 30, 2019.
Financial Highlights for First Quarter 2019 Vs. First Quarter 2018
- Net sales for the first quarter increased 24 percent, to $174 million, including $32 million from Western Window Systems
- Gross profit grew 37 percent, to $61.3 million
- Net income for the quarter grew 13 percent, to $8.3 million
- Net income per diluted share was flat at $0.14, and adjusted net income per diluted share of $0.16, decreased $0.03 from the prior year; both affected by the higher number of shares outstanding, resulting from the 2018 equity offering
- Adjusted earnings before interest, tax, depreciation and amortization grew 30 percent, to $28.3 million