PGT Innovations, Inc. (NYSE: PGTI), the Venice-based manufacturer of windows and doors, has announced financial results for its first quarter, which ended April 4, 2020. Net sales increased 27 percent, to $220 million, including $16 million from the company's NewSouth acquisition; net income increased 89 percent, to $16 million; net income per diluted share increased 86 percent, to $0.26, and adjusted net income per diluted share increased 75 percent, to $0.28; and adjusted EBITDA increased 39 percent, to $39 million.
“We saw strong momentum in new order entries across our entire business throughout most of the first quarter, prior to the change in the macro environment caused by the global COVID-19 pandemic,” PGTI president and CEO Jeff Jackson said in a release. “Our impact-resistant windows and doors are considered essential in the markets we serve, particularly as hurricane season approaches. Similar to the industry, we began to see a slowdown in orders entering the second quarter."