Ply Gem’s net sales rose 21 percent in the third quarter, boosted by several of the Cary company’s recent acquisitions.
The company reported sales of $530.9 million in the quarter, compared with $437.8 million during the same period a year ago. Sales in Ply Gem’s U.S. business increasing 32.9 percent.
Sales for the quarter were below the $553 million forecast by Wall Street analysts who cover the company, according to Bloomberg. The company had earnings per share of 60 cents, above the 57 cents that was the consensus of analysts.
Ply Gem produces vinyl siding, windows and doors and other products for home exteriors. Gary Robinette, the company's CEO, said in a statement the company is benefiting from the ongoing recovery in the U.S. housing market.
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“While the overall Canadian housing market has softened during 2015, we continue to benefit from the sustained improvement in the U.S. housing market,” he said.
The company’s acquisition of Simonton Windows last year and of Canyon Stone earlier this year drove much of Ply Gem’s increase in sales.
Ply Gem reported earnings before the markets opened Monday. The company’s shares, which are down 12 percent this year, closed Friday at $12.30.