AddThis

Trex Co. swings to profit in fiscal 2012

A recovering housing market has the alternative-wood producer Trex Co. anticipating gains in 2013. While fourth-quarter sales declined, the Winchester, Va.-based company narrowed its fourth-quarter loss and exceeded its internal expectations. 

Trex Co. posted fourth-quarter sales of $46.2 million, down from $51.5 million in the same quarter last year. The company also posted a loss of $3.6 million for the quarter, compared with a loss of $18.3 million in the same quarter last year. 

President and CEO Ronald Kaplan pointed to the positive side of the numbers. "We brought 2012 to a successful close with a solid fourth quarter,” he said. “We exceeded our revenue guidance for the period and achieved sales growth of 15% for the year." 

For the full year, the company's net sales were $307.4 million, up from $266.8 million in the previous year. Net income totaled $2.7 million compared with a net loss of $11.6 million in the prior year. 

"We believe we are well positioned for 2013, during which we expect to benefit from the growing momentum in the housing sector," Kaplan added.


Want to read more?
This content is available only to registered users. Log in to read the rest of this article or create a free account.
© 2014 Home Channel News. All Rights Reserved.