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PLY GEM ANNOUNCES SECOND QUARTER EARNINGS PER SHARE JUMP NEARLY 30 PERCENT

 NEW YORK, July 29 /PRNewswire/ -- PLY GEM Industries, Inc. (AMEX: PGI) today announced its second quarter and six months results. Revenues for the second quarter reached a record $184,422,000, up 11 percent from last year's record quarterly sales of $166,701,000. Operating income increased 13 percent to $10,197,000 from $9,007,000 in the 1992 second quarter. Although volatile wood prices impacted gross profit margins, SG&A expenses improved significantly as a percentage of sales during the second quarter. Net income rose to $3,447,000, a 24 percent increase over last year's $2,779,000 as earnings per share advanced 29 percent to $.31 fully diluted from $.24 a year ago.
 For the first six months of 1993, sales advanced to a record $330,769,000, a 12 percent increase over first half 1992 sales of $294,745,000. Operating income soared 27 percent to $10,108,000 from $7,959,000 in the 1992 first half. Net income showed dramatic improvement, rising to $1,401,000 or $.12 per share fully diluted from $106,000 or $.01 per share fully diluted for the first half of 1992.
 "PLY GEM's strong performance is directly attributable to our TEAMWORK 90s internal growth strategy to expand market share to the national home center chains and improve profitability. Working in partnership with our customers and suppliers to create innovative marketing and purchasing programs will enable PLY GEM to reach its goal of becoming the supplier of choice to the home improvement industry," said Jeffrey S. Silverman, chairman of PLY GEM Industries, Inc.
 To meet the strong demand for its home improvement product lines, PLY GEM's subsidiary, Variform, Inc. opened a new 75,000 square foot computerized vinyl siding plant in Jasper, Tenn. The company also just completed a 90,000 square foot expansion at its Great Lakes Window, Inc. vinyl window subsidiary.
 "With the success of our new marketing programs, continued improvements in operating and manufacturing efficiencies and the hard work and dedication of our management and employees, we anticipate a strong second half of 1993 and even greater results in the years ahead," said Mr. Silverman.
 PLY GEM INDUSTRIES, INC.
 Consolidated Condensed Earnings Summary
 (unaudited -- in thousands except per share data)
 Periods ended Three months Six months
 June 30, 1993 1992 1993 1992
 Net sales $184,422 $166,701 $330,769 $294,745
 Cost of sales 148,522 132,272 268,860 237,692
 Gross profit 35,900 34,429 61,909 57,053
 S,G&A 25,703 25,422 51,801 49,094
 Operating income 10,197 9,007 10,108 7,959
 Interest expense (2,726) (2,648) (5,118) (5,130)
 Investment & other
 income (expense) (24) (124) (66) (274)
 Amort. of intangibles (1,181) (1,191) (2,377) (2,372)
 Pretax income 6,266 5,044 2,547 183
 Income taxes 2,819 2,265 1,146 77
 Net income $ 3,447 $ 2,779 $ 1,401 $ 106
 Earnings per share
 Primary $ .31 $ .24 $ .12 $ .01
 Fully diluted $ .31 $ .24 $ .12 $ .01
 Avg. shares outstanding
 Primary 11,254 11,684 11,480 11,406
 Fully diluted 14,008 14,437 14,234 14,429
 -0- 7/29/93
 /CONTACT: Diane M. Cady, director - investor relations of PLY GEM, 212-832-1550/
 (PGI)


CO: PLY GEM Industries, Inc. ST: New York IN: CST SU: ERN

MP-SH -- NY017 -- 7142 07/29/93 09:12 EDT
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Date:Jul 29, 1993
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