Ply Gem reported a 23.9% gain in sales but tumbled farther into the red with an operating loss of $3.2 million for 4Q 2013. The company also stumbled in full-year net losses, from $39 million in 2012 to $79.5 million in 2013.
"The market experienced a pull-back that began during the third quarter and intensified during the fourth quarter due to severe weather, compounded by the continued lag in demand for our higher profit margin big ticket repair and remodeling products," said Gary E. Robinette, Ply Gem's president and CEO.
Total operating expenses also rose from 46.5 million in 4Q 2012 to $61.6 million in 2013.
"We expect weather to have an adverse impact on our first quarter operating results with net sales expected to be down by 15% to 20% on a sequential basis with our first quarter Adjusted EBITDA being breakeven to slightly down," said Robinette.