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PLY GEM ANNOUNCES YEAR-END EARNINGS; EARNINGS ADVANCE OVER 50 PERCENT AS SALES REACH RECORD $623 MILLION

 NEW YORK, Feb. 17 /PRNewswire/ -- Ply Gem Industries, Inc. (AMEX: PGI), today announced its results for the fourth quarter and year ended Dec. 31, 1992.
 Sales for the fourth quarter advanced 16 percent to $151,799,000 from last year's $130,967,000. Net income increased to $1,800,000, up 47 percent from the 1991 fourth quarter earnings of $1,227,000. Quarterly earnings per share advanced to $.16 fully diluted from $.12 per share fully diluted a year ago.
 For the year ended Dec. 31, 1992, sales rose 11 percent to a new record of $623,182,000 from last year's record sales of $561,550,000. Net income advanced 56 percent to $6,306,000 from $4,039,000 a year ago, helped by a reduction in interest expense and the success of the company's TEAMWORK 90s growth strategy. Fully diluted earnings per share for 1992 increased to $.56 from $.39 per share for 1991.
 "We spent the past few years building our business to become the supplier of choice to the home improvement industry. Working in partnership with our customers to meet their demands for innovative marketing programs and excellence in customer service, the Ply Gem Companies significantly increased their share of the national home center market. Additionally, as a result of investments in inventory management systems and state-of-the-art manufacturing facilities, Ply Gem is now enjoying increased profitability through improved efficiency. Our outlook for 1993 is for continued growth as we expand our share of the growing home improvement market and make further earnings gains," said Jeffrey S. Silverman, chairman of Ply Gem Industries, Inc.
 PLY GEM INDUSTRIES, INC.
 Consolidated Condensed Earnings Summary
 (In thousands, except for per share data)
 Periods ended Three Months Year
 Dec. 31 1992 1991 1992 1991
 Net sales $151,799 $130,967 $623,182 $561,550
 Cost of sales 118,223 100,843 494,093 440,628
 Gross profit 33,576 30,124 129,089 120,922
 Selling, general & admin. 25,982 24,347 101,738 95,143
 Operating income 7,594 5,777 27,351 25,779
 Interest and other exps. (4,564) (3,340) (15,977) (18,020)
 Pretax income 3,030 2,437 11,374 7,759
 Income tax 1,230 1,210 5,068 3,720
 Net income $ 1,800 $ 1,227 $ 6,306 $ 4,039
 Earnings per share:
 Primary $.16 $.12 $.56 $.39
 Fully diluted $.16 $.12 $.56 $.39
 Average shares outstanding:
 Primary 11,270 10,567 11,318 10,424
 Fully diluted 14,620 13,507 14,554 13,448
 -0- 2/17/93
 /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

GK-PS -- NY013 -- 7170 02/17/93 09:19 EST
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Date:Feb 17, 1993
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