Shares of Ply Gem Holdings fell 15 percent Thursday after the Cary company reported a larger fourth quarter loss than Wall Street analysts had expected.
The company reported a net loss in the fourth quarter of $12.5 million, or 18 cents per share, compared with a loss of $17.4 million, or 26 cents per share, in the same period in 2013. That was much larger than the 6 cents per share loss that was the consensus among analysts who cover the company, according to Bloomberg.
Ply Gem’s sales surged 35 percent in the fourth quarter thanks largely to the Cary company’s recent acquisition of Simonton Windows.
Ply Gem, which produces vinyl siding, windows and doors and other products for home exteriors, reported sales of $450.1 million. That was above the $435 million that was the consensus among analysts who cover the company, according to Bloomberg.
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Excluding the impact of Ply Gem’s acquisition of Simonton, a vinyl window and patio door manufacturer, the company’s sales increased 10 percent in the fourth quarter. Sales in the company's window and doors division rose 61.1 percent in the quarter, while its siding, fencing and stone division saw sales rise 11.2 percent.
Ply Gem paid $130 million for Simonton, which is based in Columbus, Ohio. Ply Gem is continuing to run Simonton as a stand-alone business, similar to its siding and window group.
Ply Gem shares closed Thursday at $11.50, down $2.04. The stock is down 7.5 percent over the past year.