Business

Ply Gem sales rise 9 percent in first quarter

Ply Gem Holdings reported a 8.7 percent increase in net sales in the first quarter, as the Cary company benefited from favorable weather conditions and an improving U.S. housing market.

The company, which produces vinyl siding, windows and doors and other products for home exteriors, reported net sales of $408.6 million. That was above the $400 million that was the consensus among Wall Street analysts who cover the company.

Ply Gem had a net loss of 40 cents for the quarter, compared with a loss of 72 cents during the first quarter of 2015. Analysts had forecast a loss of 25 cents in the most recent quarter.

Ply Gem attributed $6.4 million of its $32.6 million increase in sales to its acquisition of Canyon Stone, which was completed in the second quarter of last year.

“The favorable weather conditions have allowed contractors and installers to pull forward new construction and repair and remodel projects, and commence the spring building season earlier, especially in the Northeast and Midwest markets,” the company said in a statement.

Ply Gem shares fell 3 percent, or 45 cents, to close Monday at $13.36. The stock is up 13.5 percent this year.

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