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PLY GEM POSTS FIRST QUARTER RESULTS; RECORD FIRST QUARTER SALES REDUCED NORMAL SEASONAL LOSS

 PLY GEM POSTS FIRST QUARTER RESULTS;
 RECORD FIRST QUARTER SALES REDUCED NORMAL SEASONAL LOSS
 NEW YORK, April 27 /PRNewswire/ -- Ply Gem Industries, Inc. (AMEX: PGI), today announced its results for the first quarter ended March 31, 1992.
 Sales reached a new first quarter record of $128,044,000, a 16 percent advance over last year's $110,836,000. Gross profits increased to $22,624,000, a 15 percent improvement from $19,744,000 a year ago. Ply Gem normally posts a first quarter loss due to the inherent seasonality of the remodeling business. However, the strong sales increase and a reduction in interest expense enabled Ply Gem to report a lower loss this year of $2,673,000 or $.25 per share compared to a first quarter 1991 loss of $3,613,000 or $.35 per share.
 "We are very pleased to announce Ply Gem's first results of 1992 -- our record first quarter sales are positive proof that our Teamwork 90s growth strategy for increasing sales to national home center chains is working. With a strong balance sheet and improved profitability, Ply Gem is well positioned for excellent growth in 1992 and beyond," said Jeffrey S. Silverman, chairman.
 PLY GEM INDUSTRIES, INC.
 Consolidated Condensed Earnings Summary (Unaudited)
 (In thousands except per share data)
 Three months ended March 31 1992 1991
 Net sales $128,044 $110,836
 Cost of sales 105,420 91,092
 Gross profit 22,624 19,744
 S,G&A 23,672 20,900
 Operating loss (1,048) (1,156)
 Interest expense (2,482) (4,121)
 Investment and other income (expense) (150) 253
 Amortization of intangibles (1,181) (1,206)
 Pretax loss (4,861) (6,230)
 Income tax benefit (2,188) (2,617)
 Net loss $ (2,673) $ (3,613)
 Earnings (loss) per share:
 Primary $(.25) $(.35)
 Fully diluted $(.25) $(.35)
 Average shares outstanding:
 Primary 10,517 10,269
 Fully diluted 10,517 10,269
 -0- 4/27/92
 /CONTACT: Diane M. Cady of Ply Gem, 212-832-1550/
 (PGI) CO: Ply Gem Industries, Inc. ST: New York IN: CST SU: ERN


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Publication:PR Newswire
Date:Apr 27, 1992
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