Trex, the decking and railing manufacturer, this morning reported its first quarter 2010 net loss widened to $4.6 million from a net loss of $3.1 million in the first quarter 2009.
The Winchester, Va.-based company also reported net sales for the quarter fell slightly to $66.3 million compared to sales of $67.7 million in the first quarter 2009.
"Demand for our new ultra-low-maintenance product, Trex Transcend, has been exceptionally strong," Ronald Kaplan, Trex president and CEO, said in a prepared statement.
"Transcend's recent launch generated widespread excitement in the market place due to the offering's unique combination of aesthetics and practicality, as well as our industry-leading warranty," Kaplan explained. "The complementary Transcend railing system, which lets consumers mix or match decking and railing components to create the customized look they want, is also proving very popular."
Kaplan noted that Trex shifted a marketing campaign "into high gear" last March, including extensive print and television advertisements and the composite decking producer has retrofit existing manufacturing lines to produce the Transcend brand.
Looking forward, Trex expects sales of $110 million in the second quarter and a first half total of $176 million, compared to $159 million in the first six months of 2009.
