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PGT Inc

PGT Inc (PGTI)

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adnanmalik1 adnanmalik1 2 weeks ago
PGTI's acquisition of CGI Windows & Doors, a pioneer in impact-resistant windows, is a major win. This move, coupled with their stellar earnings report, reinforces PGTI's position as an industry leader. Investors should strongly consider buying PGTI, as this acquisition is poised to drive significant growth.


Miami homeowners concerned about hurricane protection should note that Hurricane Window & Screen offers the expertise and high-quality products needed for peace of mind during storm season. Their commitment to customer satisfaction and top-tier installations makes them a standout choice in the Miami market.
For more information visit at: https://hurricanewindow.com/
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adnanmalik1 adnanmalik1 1 year ago
Hurricane Window and Screen Inc is one of the best impact windows companies in Miami. They offer a range of high-quality impact windows and doors that are designed to provide exceptional protection against hurricanes, tropical storms, and other severe weather conditions.

One of the reasons why Hurricane Window and Screen Inc is so highly regarded is the quality of their products. They use only the best materials and employ skilled professionals to ensure that every window and door is installed correctly and to the highest standard.

Their impact windows and doors are tested to withstand winds of up to 200 mph and can resist impacts from flying debris. This means that they provide a high level of protection to homes and businesses, giving customers peace of mind during severe weather conditions.

Another reason why Hurricane Window and Screen Inc is a top choice for impact windows in Miami is their commitment to customer service. They work closely with each customer to understand their needs and provide personalized solutions that meet their specific requirements. From the initial consultation to the final installation, they ensure that every customer is satisfied with their service.

Additionally, Hurricane Window and Screen Inc offers competitive pricing and financing options to make their impact windows and doors accessible to a wide range of customers. This means that homeowners and business owners in Miami can benefit from their high-quality products and services without breaking the bank.

Overall, if you are looking for the best impact windows in Miami, Hurricane Window and Screen Inc is an excellent choice. With their commitment to quality, customer service, and affordability, they are a trusted and reliable company that can provide the protection and peace of mind that you need during severe weather conditions.

For More Information Visit at :https://hurricanewindow.com/
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ddbl_our_buck ddbl_our_buck 3 years ago
Sorry, the Feb 25’s call ~ confused, but stoked till I roll away the dew $PGTI
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ddbl_our_buck ddbl_our_buck 3 years ago
$PGTI great earnings report, imo
Hold some Jan 22.5 calls and the common in my Roth nice company :

https://www.nasdaq.com/press-release/pgti-reports-2021-third-quarter-results-and-maintains-fiscal-2021-guidance-2021-11-11
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FUNMAN FUNMAN 3 years ago
PGT Innovations to Acquire Anlin Windows & Doors

Thu, September 2, 2021, 9:21 AM EDT·5 min read
In this article:

https://finance.yahoo.com/news/pgt-innovations-acquire-anlin-windows-132100728.html

NORTH VENICE, Fla., September 02, 2021--(BUSINESS WIRE)--PGT Innovations (NYSE: PGTI), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor spaces, announced today it has signed an agreement to acquire Anlin Industries, also known as Anlin Windows & Doors, for a purchase price of approximately $126 million. Anlin Windows & Doors is headquartered in Clovis, CA and is recognized by dealers and customers as a top western region brand in the vinyl replacement windows and doors market. Anlin Windows & Doors has also been ranked as a Top 100 Manufacturer by Window & Door Magazine for over 20 years and a 5-star consumer-rated replacement vinyl window manufacturer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210902005494/en/


Exterior of Anlin Windows & Doors headquarters in California (Photo: Business Wire)

"This transaction is an excellent opportunity to diversify and expand our market presence across the growing West Coast region," said Jeff Jackson, President and CEO of PGT Innovations. "Anlin Windows & Doors is 90 percent focused on the vinyl remodel and replacement market while the focus of Western Window Systems - our other Western Business Unit brand - is mainly on new home construction with aluminum products. This acquisition will allow us to better serve both markets by providing a robust product platform under one umbrella. It is also a geographically-strategic addition to complement our western growth strategy."

Anlin Windows & Doors will operate under the Western Business Unit of PGT Innovations. Anlin Windows & Doors’ CEO John Maloney will remain at the company in an advisory role with Mark Maloney assuming the role of Vice President and General Manager of Anlin Windows & Doors effective as of the closing of the transaction, which is expected to occur in early Q4.

"In order for us to continue to be the best of breed company that we have become, it was apparent to our leadership team that we had to align ourselves strategically with the resources and technology that PGT Innovations can offer," said John Maloney, CEO of Anlin Windows & Doors. "To continue to lead in the market, this acquisition is a natural fit to associate ourselves with a great, national, leading edge company in both the impact window and door market and the indoor-outdoor living market."

"This is a tremendous opportunity for teams at both companies with a long lifespan for great growth potential," said Jeff Jackson. "I am very excited to welcome Anlin’s 460-plus team members to our PGT Innovations’ family of brands."

"One thing that stood out to our leadership team about PGT Innovations is their culture of putting people first. Primarily, the opportunities they provide for folks to promote from within and their tremendous benefits package from a human resources perspective. Their culture dovetails nicely with what we’ve done here at Anlin, and from that aspect, our philosophies are very much the same," said John Maloney.

Anlin generated approximately $106 million in sales during the trailing twelve months ending in July 2021, with a mid-teen adjusted EBITDA. PGT Innovations paid approximately 8.5x pre-synergies and expects the transaction to be accretive. Additionally, PGT Innovations has committed senior secured financing to fund the transaction.

Advisors

Davis Polk & Wardwell LLP is serving as legal counsel and Truist Bank is serving as financial advisors for PGT Innovations. Sullivan McGregor & Doer LLP is serving as legal counsel and Wood Warren is serving as financial advisor for Anlin Windows & Doors.

About PGT Innovations, Inc.

PGT Innovations manufactures and supplies premium windows and doors. Its highly engineered and technically advanced products can withstand some of the toughest weather conditions on earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces. Headquartered in Venice, Fla., PGT Innovations’ national footprint includes 15 facilities and a multichannel distribution / dealer platform with more than 5,000 employees.

PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market. The PGT Innovations’ family of brands include CGI®, PGT® Custom Windows and Doors, WinDoor®, Western Window Systems, Eze-Breeze®, CGI Commercial, NewSouth Window Solutions and a 75 percent ownership stake in Eco Window Systems. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.

About Western Window Systems

Western Window Systems, part of PGT Innovations’ family of brands, designs and manufactures moving glass walls and windows that bring indoor and outdoor spaces together. Inspired by contemporary living, our high-quality products are available in custom sizes, standardized sets, and massive dimensions for unlimited design possibilities in residential, multi-family, and commercial projects. From superior craftsmanship and timeless design to exceptional customer service, Western Window Systems is a preferred choice of architects, builders, and homeowners throughout North America. For additional information, visit www.westernwindowsystems.com.

About Anlin Windows and Doors

Anlin Windows and Doors is a California-based top brand for vinyl windows and doors in the remodel and replacement market. Anlin Windows and Doors produces energy-efficient windows and doors with leading edge, energy saving technology, outstanding noise reduction, with exceptional quality, design and beauty. The business provides consumer driven specialty products such as hinged patio doors with flexible options like in glass pet doors. Anlin’s commitment to quality, features, benefits and service has allowed the company to remain a leader in the vinyl window and door market. For more information, visit www.anlin.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005494/en/

Contacts

Investor Relations
Brad West
Interim Chief Financial Officer and SVP, Corporate Development and Treasurer
BWest@PGTInnovations.com
941-480-1600

Media Relations
Stephanie Cz, Corporate Communications and PR Manager
SCz@PGTInnovations.com
941-480-1600
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FUNMAN FUNMAN 5 years ago
PGTI To Acquire NewSouth Window Solutions

Entering the retail segment to sell windows and doors is potentially huge and puts them in direct competition with Pella https://www.pella.com/

Tue December 10, 2019 8:10 AM
Business Wire
About: PGTI

VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (PGTI), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced it has signed a definitive agreement to acquire NewSouth Window Solutions (“NewSouth”) for a purchase price of $92 million in cash, subject to adjustments. NewSouth is a manufacturer and installer of factory-direct, energy-efficient windows and doors, including both impact-resistant and non-impact residential products. NewSouth has eight retail showrooms in several locations throughout Florida, with an additional showroom in Charleston, South Carolina, and is the only vertically integrated window dealer in Florida.

“This transaction is expected to support our diversification into growing segments in the window and door industry, by enabling us to enter the direct-to-consumer channel, where NewSouth is a market leader in Florida,” said Jeff Jackson, President and Chief Executive Officer of PGT Innovations. “NewSouth’s direct-to-consumer model is supported by its showrooms and in-home sales. With the addition of NewSouth, we expect to continue our strategy to grow in geographic areas outside of our core markets, with showroom openings planned for northern Florida and coastal states in the South. The acquisition is expected to provide PGT Innovations with the opportunity to serve a broader residential market segment, primarily driven by replacement projects, and relatively smaller order sizes that PGT Innovations’ strong dealer network typically does not target or serve.”

“NewSouth has a strong track record of sales growth and is forecasted to achieve net sales for 2019 in the range of approximately $82 million to $85 million and EBITDA margin in the mid-teens, inclusive of acquisition synergies, with retail margins similar to PGTI’s legacy business, including solid margins in NewSouth’s non-impact product line,” said Sherri Baker, Senior Vice President and Chief Financial Officer of PGT Innovations. “NewSouth expects to achieve a net sales compounded annual growth rate of approximately 29 percent from 2015 through the end of 2019.”

“We are excited to be joining the NewSouth team with PGT Innovations and are thrilled to become part of the PGT Innovations family. After successfully executing our growth plan in Florida, we expect this combination to provide growth opportunities to better serve the southern coastal markets and beyond,” said Earl Rahn, Chief Executive Officer of NewSouth.

Strategic and Financial Benefits

NewSouth provides access to a new channel that markets directly to consumers

• NewSouth’s direct-to-consumer model gives us a new type of customer which we expect to be incremental and complementary to our existing dealer channel

• The addition of NewSouth expands our footprint with new showroom locations planned for northern Florida and throughout the southern coastal states

NewSouth drives brand awareness with successful methods for advertising and marketing

• NewSouth has gained extensive brand awareness throughout Florida, with successful advertising and marketing programs, including television, digital media and direct mail

• PGTI expects to benefit from NewSouth’s market intelligence through more effective marketing and promotional campaigns that should benefit PGTI’s legacy brands and dealer network

Opportunities exist for supply chain synergies with the addition of NewSouth

• By leveraging our manufacturing expertise, we expect to drive efficiencies across the entire supply chain, including in the areas of procurement savings and production efficiencies

• Expected synergies of $2 million anticipated to be achieved by leveraging PGTI’s size and scale on raw material purchases and applying efficient practices to NewSouth’s production operations

Existing NewSouth leadership will continue with the business

• Committed, experienced leadership expected to remain with the NewSouth business, supporting our integration efforts

We expect to maintain strong margins, and remain committed to a strong balance sheet, and financial flexibility

• The combined company is expected to generate strong gross and EBITDA margins

• We expect our post-acquisition net leverage ratio to remain below 2.6 times

• We expect to continue to focus on our long-standing strategy of deleveraging following acquisitions, because we are committed to maintaining our financial flexibility and strong balance sheet
Transaction Financing, Approvals, and Timing to Close

PGTI expects to finance the transaction through a combination of cash on hand and with an additional $50 million of long-term debt. We have received financing commitments for the entire purchase price, and therefore the acquisition is not subject to a financing condition.
The transaction is expected to be completed in the first quarter of 2020, subject to customary closing conditions. The HSR waiting period has expired and obtaining HSR approval of the transaction is not a condition to closing.

Advisors

Jones Day is serving as legal counsel and SunTrust Robinson Humphrey, Inc. is serving as financial advisor to PGT Innovations. Raymond James is acting as financial advisor and Foley & Lardner LLP is acting as legal counsel to NewSouth Window Solutions.

Pre-Recorded Conference Call

PGT Innovations will post a pre-recorded conference call, along with a presentation, at 8:10 a.m. on Tuesday, December 10, 2019, each of which will be available through the Investor Relations section of the PGT Innovations, Inc. website, http://ir.pgtinnovations.com/events.cfm.
You may also access the pre-recorded conference call online by using the following link: https://choruscall.sharefile.com/d-9349ec44f1194a29.
About PGT Innovations, Inc.

PGT Innovations manufactures and supplies premium windows and doors. Its highly-engineered and technically-advanced products can withstand some of the toughest weather conditions on earth and unify indoor/outdoor living spaces.

PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves and a drive to develop category-defining products. PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors, holds the leadership position in its primary markets, and is part of the S&P SmallCap 400 Index.

The PGT Innovations’ family of brands include CGI®, PGT® Custom Windows & Doors, WinDoor®, Western Window Systems®, CGI Commercial® and Eze-Breeze®. The Company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. The Company’s high-quality products are available in custom and standard sizes with multiple dimensions that allow for greater design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meanings of the federal securities laws. Forward looking statements are statements other than historical fact, and involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as “expected,” “expect,” “planned,” “opportunity,” “enable,” “anticipated” “should,” “believe,” “may,” “forecasted,” “guidance,” “intend,” “believe” and similar terminology. These risks and uncertainties include factors such as:

• the ability to successfully integrate the operations of NewSouth or to complete the integration of Western Window Systems into our existing operations and the diversion of management’s attention from ongoing business and regular business responsibilities to effect such integrations;

• disruption from our recent or future acquisitions or increased expenses or unanticipated liabilities making it more difficult to maintain relationships with customers or suppliers of acquired businesses;

• adverse changes in new home starts and home repair and remodeling trends, especially in the state of Florida, where the substantial portion of our and NewSouth’s sales are currently generated, and in the western United States, where the substantial portion of the sales of Western Window Systems’ operations are generated, and in the U.S. generally;

• macroeconomic conditions in Florida, where the substantial portion of our sales of impact resistant products are generated, and in California, Texas, Arizona, Nevada, Colorado, Oregon, Washington and Hawaii, where the substantial portion of the sales of Western Window Systems’ indoor/outdoor living products are currently generated, and in the U.S. generally;

• our level of indebtedness, which increased in connection with our acquisition of Western Window Systems, and is expected to increase further in connection with our acquisition of NewSouth;

• the effects of increased expenses or unanticipated liabilities incurred as a result of, or due to activities related to, our acquisitions of NewSouth and Western Window Systems;

• the risk that the anticipated cost savings, synergies, revenue enhancement strategies and other benefits expected from our acquisition of NewSouth and Western Window Systems Acquisition may not be fully realized or may take longer to realize than expected or that our actual integration costs may exceed our estimates;

• changes in raw material prices, especially for aluminum, glass and vinyl, including, price increases due to the implementation of tariffs and other trade-related restrictions;

• our dependence on a limited number of suppliers for certain of our key materials;

• sales fluctuations to and changes in our relationships with key customers;

• increases in bad debt owed to us by our customers in the event of a downturn in the home repair and remodeling or new home construction channels in our core markets and our inability to collect such debt;

• in addition to the acquisitions of NewSouth and Western Window Systems, our ability to successfully integrate businesses we may acquire in the future, or that any business we acquire may not perform as we expected at the time we acquired it;

• increases in transportation costs, including due to increases in fuel prices;

• our dependence on our impact-resistant product lines and contemporary indoor/outdoor window and door systems, and on consumer preferences for those types and styles of products;

• product liability and warranty claims brought against us;

• federal, state and local laws and regulations, including unfavorable changes in local building codes and environmental and energy code regulations;

• our dependence on our limited number of geographically concentrated manufacturing facilities;

• risks associated with our information technology systems, including cybersecurity-related risks, such as unauthorized intrusions into our systems by “hackers” and theft of data and information from our systems, and the risks that our information technology systems do not function as intended or experience temporary or long-term failures to perform as intended; and

• the risks and uncertainties discussed under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 29, 2018.

Statements in this press release that are forward-looking statements include, without limitation, our expectations regarding: (1) our diversification into other market segments; (2) our ability to achieve growth and success in the direct-to-consumer channel; (3) planned expansions into geographical areas outside of our core markets; (4) the timing for opening additional NewSouth showrooms and the success of those showrooms; (5) the forecasted financial performance and margins of the NewSouth business and the combined company; (6) the net sales growth rate for NewSouth; (7) possible benefits to PGTI’s business from NewSouth’s marketing intelligence and advertising and marketing expertise; (8) post-acquisition synergies and operating efficiencies; (9) the integration of the NewSouth business; (10) our net leverage and ability to deleverage our debt position following acquisitions, including the NewSouth acquisition; and (11) the expected timing of the closing of the NewSouth acquisition. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances from the date of this press release.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20191210005371/en/

Investor Relations:
Sherri Baker, 941-480-1600
Senior Vice President and CFO
SBaker@PGTInnovations.com

Media Relations:
Brent Boydston, 941-480-1600
Senior Vice President, Corporate Sales and Marketing
BBoydston@PGTInnovations.com

Source: PGT Innovations, Inc.
Copyright Business Wire 2019

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FUNMAN FUNMAN 5 years ago
PGT Innovations Appoints Mike Wothe as President of Western Window Systems

November 26, 2019 12:55 PM Eastern Standard Time

NORTH VENICE, Fla.--(BUSINESS WIRE)--PGT Innovations (NYSE: PGTI) today announced the appointment of Mike Wothe as President of Western Window Systems, effective December 2, 2019. In this role, Wothe will be responsible for all aspects of the business, including strategy, sales and marketing, operations, and P & L. Wothe succeeds Scott Gates, who is leaving the company on January 31, 2020, to form an entrepreneurial clothing company with the social goal of helping incarcerated individuals and those that have recently been released from prison. Gates and Wothe will work together over the next two months to help ensure the smooth transition we anticipate.

“Mike is a collaborative leader with a strong record of success, and we are pleased to welcome him to PGT Innovations,” said Jeff Jackson, Chief Executive Officer and President. “Mike brings decades of operations and industry experience, as well as a strong understanding of customer relations.”

“I’m honored and excited to join the PGT Innovations family — both its executive management team as well as the strong team in place at Western Window Systems,” Wothe said. “I look forward to helping the company achieve its strategic objectives — specifically, driving profitable growth through investments in talent and innovation, continued focus on operational efficiencies, and creating customer and shareholder value.”

Jackson said, “I would like to thank Scott Gates for his dedication and leadership during his tenure as President of Western Window Systems, and I wish him all the best in his new endeavor.”

Prior to joining PGT Innovations, Wothe was President at Cardinal LG Company, a leader in residential glass for windows and doors in the United States.

Wothe holds a Bachelor of Science in chemical engineering from the University of Washington.

About PGT Innovations, Inc.

PGT Innovations manufactures and supplies premium windows and doors. Their highly engineered and technically advanced products can withstand some of the toughest weather conditions on earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.

PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors, holds the leadership position in its primary market, and is part of the S&P SmallCap 400 Index.

The PGT Innovations’ family of brands include CGI®, PGT® Custom Windows and Doors, WinDoor®, Western Window Systems, Eze-Breeze®, and CGI Commercial. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.

Forward-Looking Statements

Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as “anticipate”, “forward” “excited,” and “objectives,” These risks and uncertainties include factors such as:

• adverse changes in new home starts and home repair and remodeling trends, especially in the state of Florida, where the substantial portion of our sales are currently generated, and in the western United States, where the substantial portion of the sales of Western Window Systems’ operations are generated, and in the U.S. generally;

• macroeconomic conditions in Florida, where the substantial portion of our sales are generated, and in California, Texas, Arizona, Nevada, Colorado, Oregon, Washington and Hawaii, where the substantial portion of the sales of Western Window Systems are currently generated, and in the U.S. generally;

• our level of indebtedness, which increased in connection with our acquisition of Western Window Systems;

• the effects of increased expenses or unanticipated liabilities incurred as a result of, or due to activities related to, the Western Window Systems Acquisition;

• the risk that the anticipated cost savings, synergies, revenue enhancement strategies and other benefits expected from the Western Window Systems Acquisition may not be fully realized or may take longer to realize than expected or that our actual integration costs may exceed our estimates;

• raw material prices, especially for aluminum, glass and vinyl, including, price increases due to the implementation of tariffs and other trade-related restrictions;

• our dependence on a limited number of suppliers for certain of our key materials;

• sales fluctuations to and changes in our relationships with key customers;

• increases in bad debt owed to us by our customers in the event of a downturn in the home repair and remodeling or new home construction channels in our core markets and our inability to collect such debt;

• in addition to the Western Window Systems Acquisition, our ability to successfully integrate businesses we may acquire, or that any business we acquire may not perform as we expected at the time we acquired it;

• increases in transportation costs, including due to increases in fuel prices;

• our dependence on our impact-resistant product lines and contemporary indoor/outdoor window and door systems, and on consumer preferences for those types and styles of products;

• product liability and warranty claims brought against us;

• federal, state and local laws and regulations, including unfavorable changes in local building codes and environmental and energy code regulations;

• our dependence on our limited number of geographically concentrated manufacturing facilities;

• risks associated with our information technology systems, including cybersecurity-related risks, such as unauthorized intrusions into our systems by “hackers” and theft of data and information from our systems, and the risks that our information technology systems do not function as intended or experience temporary or long-term failures to perform as intended; and

• the risks and uncertainties discussed under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 29, 2018.

Statements in this press release that are forward-looking statements include, without limitation, our expectations regarding: (1) the transition in the leadership of our Western Window Systems segment; and (2) our ability to achieve our strategic objectives, including profitable growth and creating customer and shareholder value. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances from the date of this press release.



Contacts
Investor Relations:
Sherri Baker, 941-480-1600
Senior Vice President and CFO
SBaker@PGTInnovations.com

Media Relations
Stephanie Cz, Communications Manager
SCz@PGTInnovations.com
941-480-1600


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FUNMAN FUNMAN 6 years ago
I heard about this over a business dinner last night. PGTI immediately came to mind.

Though I don't have an answer for you.
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nupapa nupapa 6 years ago
I would really like to know if this was a $PGTI window.

https://www.yahoo.com/gma/florida-school-shooting-suspect-fired-hurricane-proof-window-150903566--abc-news-topstories.html

Nupapa
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FUNMAN FUNMAN 7 years ago
PGT Innovations to Launch Latest Products at NAHB International Builders’ Show

Hey wallstreet, your idea of a Texas office and plant is a good idea.

Mon December 11, 2017 2:00 PM|Business Wire|About: PGTI
N. VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (PGTI) (NYSE: PGTI) and its trusted family of brands including CGI®, PGT® Custom Windows + Doors and WinDoor® announced today they will unveil new products at the 2018 NAHB International Builders' Show® (IBS) on January 9-11. Each brand under the PGT Innovations umbrella shares a deep focus on their customers and engineering the next generation of technically advanced windows and doors.

“It’s an exciting time for PGT Innovations as our brands are able to make a stronger impact, together. We look forward to showcasing our forward-thinking products and prototypes, and unveiling PGT Innovations’ Limited Signature Edition at the January’s NAHB International Builders’ Show,” said Jeff Jackson, President, PGT Innovations.

Mr. Jackson begins his new role as CEO of PGT Innovations, effective January 1, 2018. Rod Hershberger, who is retiring as CEO, will continue to serve as the Chairman of the Board of Directors.

PGT Innovations will showcase their emerging innovations at booth W2952. New products will be revealed at the show where visitors will also be able to see products offered by each brand — CGI®, PGT® Custom Windows + Doors, and WinDoor®. New products for 2018 include:

Sparta by CGI® Windows and Doors: Sparta impact-resistant windows are perfect for when strength and performance are still required, but value is desired. This new product line makes it easier for families to upgrade from cumbersome plywood or shutters, making it an ideal choice for new construction or remodel projects.
SlimFront Storefront System by CGI® Commercial Architectural Products: SlimFront provides a pre-glazed storefront window and door system that boasts narrow sightlines. To make installation easier, there is a no jamb anchorage option coupled with industry-leading sizes and design pressures.
New WinGuard® Aluminum by PGT® Custom Windows + Doors: WinGuard impact-resistant windows and doors have been effortlessly protecting families for over 20+ years. The re-engineered offering delivers some of the largest sizes in the industry with even stronger design pressures. The contemporary frame profile, integrated locks, and expanded architectural finish options on hardware are just some of the many new features.
Bifold Door Series by WinDoor: The 8500 Series bi-fold door is custom-made to provide industry-leading sizes with impact-resistant or non-impact glass. The unique bottom rollers eliminate the need for a support beam, making it ideal for remodel or new construction projects.
PGT Innovations will also host industry-leading experts to speak in their booth W2952 at IBS on January 9, 10 and 11, between 10:00-3:30 p.m. Speakers include: Dean Ruark, SE AAMA President; Ken Vanderbent, Senior Manager of Innovation; Jeff Rafter, National Account Manager for Eze Breeze, and Jamison Eige, Director of Sales. Topics range from lessons learned from Hurricane Irma to how the Company’s prototypes are engineered to continue to exceed industry standards.

To find out more about the new PGT Innovations, their brands or their booth at IBS 2018, visit www.pgtinnovations.com/IBS.
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wallstreet9999 wallstreet9999 7 years ago
They should open a office in Houston.
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FUNMAN FUNMAN 7 years ago
Hershberger stepping down as CEO of PGT

By John Hielscher
Staff Writer

Posted Oct 13, 2017 at 1:25 PM
Updated Oct 13, 2017 at 2:01 PM

Longtime colleague and current president Jeff Jackson will be new CEO

VENICE — Rod Hershberger, one of the founders of PGT Innovations Inc. nearly 40 years ago, will retire as chief executive officer Jan. 1 but remain chairman of the board.

Jeff Jackson, the current president who has been with PGT for a dozen years, has been appointed CEO.

PGT, a manufacturer of impact-resistant doors and windows, is one of the region’s largest publicly traded companies, posting $458 million in sales last year. It employs 2,800 in Florida, with nearly 2,100 of the employees working at the North Venice operation.

Hershberger, 61, said it has been an “honor” to lead the company, and he thanked employees and customers for their support.

“Consistent with our succession planning, we’ve promoted from within a demonstrated leader at a time when PGT Innovations is in a strong position,” Hershberger said. “Jeff has the ability to translate vision and strategy into industry-leading execution, bringing together brands, products and teams to drive results.

“As a 12-year veteran with the company, Jeff already understands all aspects of our business and will move the company forward to capitalize on the opportunities in front of us.”

Hershberger and two partners founded was was then called Vinyl Tech in 1980. After several expansions, the company was renamed PGT Industries — for Progressive Glass Technology — and in 2001 an Ohio investment fund bought out the owners. Three years later, the company was sold to JLL Partners, a New York leveraged buy-out fund that became the controlling shareholder. It took PGT public in 2006, with shares trading on the Nasdaq before moving to the New York Stock Exchange late last year.


While PGT struggled during the real estate downturn, laying off close to half its employees by 2008, the economic recovery and a rebounding housing market has pushed the company’s sales to new highs.

The company, rebranded last year as PGT Innovations, has made several key acquisitions. It paid $111 million in 2015 for CGI Windows & Doors, a Miami company that also makes storm-resistant products, and last year closed a $102 million purchase of WinDoor Inc., an Orlando company that also makes impact-resistant windows and doors.

Jackson, 51, joined PGT as vice president and chief financial officer, helping to lead its IPO. He was later named executive vice president and in 2014 was promoted to president and chief operating officer, a role that included overseeing all aspects of company operations and strategy. He was appointed to the board last year. His new title will be president/CEO.

“I am humbled and excited by the opportunity to lead PGT Innovations,” he said in a news release. “I look forward to continuing to work with our team and valued customers to build upon the solid foundation that Rod created and to realize the opportunities we have going forward. I am focused on continuing our legacy of deep customer relationships and accelerating the innovation and execution that our customers need and expect from us.”

The company reported that its second-quarter net sales hit a record $137.38 million, up 15 percent over the year. Net income climbed to $10.25 million, or 20 cents per share, compared with $7.35 million, or 15 cents per share, a year earlier. Those results topped Wall Street expectations. Third-quarter results will be released Nov. 2.

The company’s shares were trading this afternoon for $14.43, down 7 cents.
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FUNMAN FUNMAN 7 years ago
Thanks. I'm pretty confident that you are right; they will be reducing debt by about 10%.

Regarding your statement about "put the money to better use":

As long as they aren't going to pay us a dividend, I would like to see them using the free cash flow to reduce more of the debt. Debt service costs them about 5% +/-

In 2 years time they could be under $200 million. That would improve shareholder value. It might even position PGTI for a take-over of itself.





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nupapa nupapa 7 years ago
I took that to mean $28 million - not the purchase price of the equipment. I also like the removal of future capital requirements and equipment maintenance costs. Put the money to better use.

Price is holding nicely today $14.95. Like to see it cross $15, but a bit of consolidation before that won't be a bad thing.

IMO
NP

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FUNMAN FUNMAN 7 years ago
Long-term debt, less current portion is... $248,569 million ... I wonder if the press release means the $248 million will be reduced by $28 million less taxes, or if they are reducing debt by only the original purchase price of the equipment which would be about $16 million and padding cash on hand with the rest?

If the former, that works out to be a debt reducing move of about 10%. Pretty impressive.



PGT sells assets for $28 million
BY: BUSINESS OBSERVER
September 28, 2017

VENICE — Venice-based window and door manufacturer PGT Innovations Inc. sold assets it used in processing glass components for doors for $28 million to Cardinal Glass Industries.

PGT also entered into a seven-year supply agreement for Cardinal to supply those components to the firm, according to a press release. Cardinal is a manufacturer of residential glass for windows and doors. It has 37 locations around the U.S., including one in Ocala.

“This enhanced partnership is a strong strategic fit, leveraging the two companies’ respective strengths,” says PGT Innovations President Jeff Jackson in the statement. “We invested in glass processing capacity in 2014, a time when no other company in our industry was investing in those assets, and that investment has paid off with the sale of these assets, generating a 37% annualized return for our shareholders on the investment.”

He also says in the press release the agreement enables PGT to pay down debt by the amount of the purchase price, less taxes, and removes some future capital requirements and equipment maintenance costs.

PGT will retain and continue to use certain strategic assets, such as its window glass processing equipment and all production facilities, including the glass plant where the equipment sold to Cardinal has been located.

The statement says PGT plans to reallocate about 160 employees into its window and door assembly operations and other areas. This will be done to “help the company alleviate employment constraints it has experienced periodically due to a tight labor market in the Venice area,” the statement adds.

PGTI has about 2,800 employees in Florida. The company’s brands include CGI, PGT Custom Windows & Doors and WinDoor.



BTW - Here's the statement about the restrictive loan covenants that include dividends.

The 2016 Credit Agreement also contains a number of affirmative and restrictive covenants, including limitations on the incurrence of additional debt, liens on property, acquisitions and investments, loans and guarantees, mergers, consolidations, liquidations and dissolutions, asset sales, dividends and other payments in respect of our capital stock, prepayments of certain debt and transactions with affiliates. The 2016 Credit Agreement also contains customary events of default. Upon the occurrence of an event of default, the amounts outstanding under the 2016 Credit Agreement may be accelerated and may become immediately due and payable. As of July 1, 2017, we were in compliance with all affirmative and restrictive covenants.




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FUNMAN FUNMAN 7 years ago
PGTI - not bad ... Price ... $14.78 ... Day's Change ... +0.375¢ (+2.60%)

Volume (Average) 325,293

On September 28, 2017

at 3:16pm ET


Very impressive

Folks are really starting to price a premium into repairs, renovations and new construction needs for Hurricane resistant windows and doors.
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FUNMAN FUNMAN 7 years ago
If you see news please post it.

PGT Innovations Team of Experts to Assess Building Damage Following Hurricane Irma

It's a lot of good will that can lead to a lot of new business.

Sep 27, 2017

NORTH VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (NYSE: PGTI), the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors, offers its top engineers to join a statewide effort to assess post-storm building damage. A national expert in building codes and PGT Innovations Director of Product Management, Dean Ruark, and PGTI professional engineers Lynn Miller and Robert Beaird will contribute to a study led by the University of Florida to examine the impact of Hurricane Irma on buildings and infrastructure throughout the state.

The assessment, led by David O. Prevatt, Ph.D., PE, Civil & Coastal Engineering Dept., University of Florida, will rapidly collect data on the immediate post-storm condition of buildings before clean-up. The team will also identify specific areas in Florida for more extensive surveys of building damage. The analysis will identify weaknesses and strengths in the remaining structures. PGTI engineers will contribute data to the study and also examine the performance of PGT impact-resistant windows and doors in areas most affected by the storm.

“I’m eager to contribute to this important analysis. It’s essential to examine the damage on the ground to learn how buildings performed against a major Hurricane,” said Mr. Ruark. “The Florida Building Commission has already taken many vital steps to keep people and buildings safe from major storms. We expect to see that newer buildings performed well against Hurricane Irma which will affirm the need for strong building codes as well as strict code enforcement in places vulnerable to hurricanes.”

For the building industry, this research can help inform future design of more resilient buildings. For PGT Innovations, Mr. Ruark hopes to identify ways to invent safer, stronger and smarter impact-resistant windows and doors.

“PGT Innovations is dedicated to inventing, building, and delivering impact-resistant windows and doors to ensure families, homes, and businesses remain safe through severe weather events,” said Jeff Jackson, President of PGT Innovations.

Mr. Ruark is a Florida Registered Professional Engineer, and currently, serves on the American Architectural Manufacturer’s Association’s (AAMA) Code Action committee and is instrumental in developing code change proposals for the international codes as well as the Florida Building Codes to better protect buildings against natural disasters. He also serves as President of the AAMA Southeast Region.



View source version on businesswire.com: http://www.businesswire.com/news/home/20170927005965/en/
PGT Innovations
Media Relations Contact:
Danielle Mikesell, Office: 941-480-1600
Vice President, Marketing & Innovation
DMikesell@PGTInnovations.com
or
Investor Relations Contact:
Brad West, Office: 941-480-1600
Chief Financial Officer
BWest@PGTInnovations.com
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nupapa nupapa 7 years ago
Good day. Liked seeing PR today
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FUNMAN FUNMAN 7 years ago
They need to refinance with a new institution to control the complete removal of the "no-dividend covenant".

And you are correct. I believe if PGTI instituted an annual dividend of 20¢ for a yield of about 1.5%, it would add $2 - $4 to the PPS.

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FUNMAN FUNMAN 7 years ago
PGTI is kicking ass today...Price...$14.35...Day's Change...+0.30 (+2.14%)

Volume(Average) 283,031 on September 27, 2017 at 2:42pm ET


I guess a lot of people are coming around to your way of thinking.

How can they profit from the hurricanes ... and who makes a great product that solves problems? Why it's PGTI of course.
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nupapa nupapa 7 years ago
Yeah - saw all of that. The Institutions are holding the float captive for now, but that won't last.

What I liked about the Cardinal announcement was this statement:

“Cardinal has been a loyal, long-term partner for us with a consistent track record of reliably delivering high-quality products. Better leveraging their industry-leading capabilities is a sound business decision as we prepare to meet the increasing demand for impact-resistant products expected in 2018 and beyond. This new agreement allows us to heighten our focus in our core areas of window and door manufacturing, where we excel, and enables us to pay down debt by the amount of the purchase price, less taxes, and removes some of our future capital requirements and equipment maintenance costs. In addition, based upon pricing agreed upon in this supply arrangement, we expect there will be no unfavorable impact to our EBITDA margins.”

Clear sign they expect big things. A divy would be a great way to draw more interest.

All IMO

NP


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FUNMAN FUNMAN 7 years ago
This is also interesting ... Short % Increase / Decrease... -27 %

Short Interest (Shares Short) - Prior ... 1,763,000

Short Interest (Shares Short) - Recent ... 1,293,600

I guess lots of people thought the same as you believing there's too much opportunity for PGTI because of all the storm damage.


Ironically, here's one reason why there isn't any volatility in PGTI's PPS.


% Held by Institutions ... 98.06%


The big boys had lock up most of the O/S. There are 143 of them.


And it's for that reason why I don't understand them not pressing management for a dividend.
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FUNMAN FUNMAN 7 years ago
Agreed ... and no I did not get a response.

It's disturbing that they've been making money and won't take care of the loan covenants that would allow them to start paying a dividend.

It's too bad. I've held shares from as low as $7 but with no dividend it's tough to just sit and wait for them to grow and for people to hear about them.

I agree with you that the recent storms just created a surge in demand for hurricane resistant windows and doors. PGTI should have tons of business over the next 12 months and "surprises" to the upside EPS's in the coming Q's.

Given warming sea temperatures, the intensity of future storms should be greater, as will the damage.

PGTI is sitting in the catbird's seat for in-demand, "essential" products to renovations, reconstructions, and new construction projects.

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nupapa nupapa 7 years ago
Did you get a response? I'm in on PGTI - too much opportunity with all the storm damage in Florida, Gulf and Caribbean for them not to do well for a few years.

NP
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FUNMAN FUNMAN 7 years ago
Sent to: BWest@PGTInnovations.com ... The PGTI and Cardinal Glass deal sounds like a very fortuitous deal for both parties and should enhance PTGI's post-Irma capabilities.

http://www.businesswire.com/news/home/20170922005084/en/PGT-Innovations-Announces-Sale-Door-Glass-Processing

PGTI's EPS last year was 51¢ with 49.6 million outstanding shares. PGTI should be able to pay a nice dividend.

The balance sheet shows $40 million in cash. The income statement shows Normalized Income Available to Common Shareholders was $26.039 million in 2016.

When will a dividend be initiated?

If your answer is PGTI has no plans to initiate a dividend my follow up questions are "Why?" and "What does PGTI intend to do with the cash and income to enhance shareholder value?"

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FUNMAN FUNMAN 7 years ago
PGTI - This sounds like a very fortuitous deal for both parties and should enhance PTGI's post-Irma capabilities.

This is definitely not the time to sell PGTI.

If they could only refinance their debt to rid themselves of the contractual covenant that prohibits them from paying a dividend.

Their EPS last year was 51¢ with 49.6 million outstanding shares. They should be able to pay a nice dividend.

They are sitting on $40 million in cash. They made $26 million in 2016.

Where's the cash going? This isn't a tech company!


PGTI - “This is a significant, win-win opportunity for PGTI and Cardinal. This enhanced partnership is a strong strategic fit, leveraging the two companies’ respective strengths”

PGT Innovations Announces Sale of Door Glass Processing Assets and Long-Term Supply Agreement with Cardinal Glass Industries

September 22, 2017
09:00 AM Eastern Daylight Time

NORTH VENICE, Fla.--(BUSINESS WIRE)--PGT Innovations, Inc. (NYSE:PGTI), the nation's leading manufacturer and supplier of residential impact-resistant windows and doors announced today that it has sold to Cardinal Glass Industries assets that PGT has used in processing glass components for doors for a purchase price of $28 million, and entered into a seven-year supply agreement for Cardinal to supply those components to PGTI. Cardinal has been a key supplier for PGTI for many years and is an industry-leading manufacturer of residential glass for windows and doors, employing over 6,000 employees with 37 locations around the United States, including one in Ocala, Florida.

“This is a significant, win-win opportunity for PGTI and Cardinal. This enhanced partnership is a strong strategic fit, leveraging the two companies’ respective strengths,” stated Jeff Jackson, President of PGT Innovations.“We invested in glass processing capacity in 2014, a time when no other company in our industry was investing in those assets, and that investment has paid off with the sale of these assets, generating a 37 percent annualized return for our shareholders on the investment.”

Jackson continues, “Cardinal has been a loyal, long-term partner for us with a consistent track record of reliably delivering high-quality products. Better leveraging their industry-leading capabilities is a sound business decision as we prepare to meet the increasing demand for impact-resistant products expected in 2018 and beyond. This new agreement allows us to heighten our focus in our core areas of window and door manufacturing, where we excel, and enables us to pay down debt by the amount of the purchase price, less taxes, and removes some of our future capital requirements and equipment maintenance costs. In addition, based upon pricing agreed upon in this supply arrangement, we expect there will be no unfavorable impact to our EBITDA margins.”

PGTI will retain and continue to use certain strategic assets such as its window glass processing equipment, its state of the art TPS system and all production facilities, including the glass plant where the equipment sold to Cardinal has been located, which will allow the Company to expand its window and door assembly operations to meet increasing demand. In addition, the Company plans to reallocate approximately 160 employees into its window and door assembly operations and other areas, which should help the Company alleviate employment constraints it has experienced periodically due to a tight labor market in the Venice area.

"We are excited about expanding our partnership with PGT Innovations, and the opportunities we will have supplying PGT with their door glass requirements," stated Mike Wothe, President of Cardinal LG Company.” This relationship has been developing over the past 12 years and represents a powerful opportunity for Cardinal to significantly expand our presence in Florida, one of the fastest growing markets in the nation. We look forward to our collective growth opportunities and being part of PGTI's continued success."
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stocktrademan stocktrademan 9 years ago
$PGTI recent news/filings

bullish 11.06
bouncing off a long term support and resistance zone
acc/dist and on balance volume OBV bullish

## source: finance.yahoo.com

Sat, 21 Nov 2015 18:07:08 GMT ~ Hedge Funds Aren’t Crazy About Dorian LPG Ltd (LPG) Anymore


read full: http://www.insidermonkey.com/blog/hedge-funds-arent-crazy-about-dorian-lpg-ltd-lpg-anymore-385265/
*********************************************************

Fri, 13 Nov 2015 18:04:27 GMT ~ PGT, INC. Financials


read full: http://finance.yahoo.com/q/is?s=pgti
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Thu, 12 Nov 2015 15:20:03 GMT ~ PGT Q3 Earnings Miss Expectations, Rise Y/Y, Shares Fall


read full: http://finance.yahoo.com/news/pgt-q3-earnings-miss-expectations-152003864.html
*********************************************************

Mon, 09 Nov 2015 14:38:14 GMT ~ Edited Transcript of PGTI earnings conference call or presentation 5-Nov-15 3:30pm GMT


read full: http://finance.yahoo.com/news/edited-transcript-pgti-earnings-conference-143814197.html
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Thu, 05 Nov 2015 23:15:00 GMT ~ PGT, INC. Files SEC form 10-Q, Quarterly Report


read full: http://biz.yahoo.com/e/151105/pgti10-q.html
*********************************************************

$PGTI charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$PGTI company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/PGTI/company-info
Ticker: $PGTI
OTC Market Place: Not Available
CIK code: 0001354327
Company name: PGT, Inc.
Incorporated In: DE, USA
$PGTI share structure

## source: otcmarkets.com

Market Value: $538,103,330 a/o Nov 20, 2015
Shares Outstanding: 48,653,104 a/o Nov 04, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01

$PGTI extra dd links

Company name: PGT, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PGTI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PGTI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PGTI+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/news - http://finance.yahoo.com/q/h?s=PGTI+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PGTI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PGTI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PGTI
DTCC (dtcc.com): http://search2.dtcc.com/?q=PGT%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=PGT%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=PGT%2C+Inc.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PGTI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001354327&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PGTI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PGTI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PGTI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PGTI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PGTI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PGTI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PGTI+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PGTI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PGTI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PGTI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PGTI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PGTI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PGTI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PGTI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PGTI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PGTI



$PGTI DD Notes ~ http://www.ddnotesmaker.com/PGTI
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magness magness 9 years ago
They are perfectly positioned with manufacturing plants in Miami/Dade and upscale Sarasota. Buy now while it's down and hold for blowout earnings next thursday. (Seven trading days away.)
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rmjackson rmjackson 9 years ago
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rmjackson rmjackson 9 years ago
Earnings in 7 trading days, should help speed up recovery time.
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stocktrademan stocktrademan 9 years ago
$PGTI recent news/filings

bullish

## source: finance.yahoo.com

Mon, 15 Jun 2015 13:30:01 GMT ~ Zoes's Kitchen, PennyMac Mortgage Investment Trust, Holly Energy Partners, PACCAR and PGT highlighted as Zacks Bull and Bear of the Day - Press Releases


read full: http://finance.yahoo.com/news/zoess-kitchen-pennymac-mortgage-investment-133001563.html
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Fri, 12 Jun 2015 13:21:01 GMT ~ Retail Sales Surge in May: 3 Stocks to Buy - Analyst Blog


read full: http://finance.yahoo.com/news/retail-sales-surge-may-3-132101187.html
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Fri, 12 Jun 2015 12:34:12 GMT ~ 3 Reasons Why PGT, Inc. (PGTI) Is a Great Growth Stock - Tale of the Tape


read full: http://finance.yahoo.com/news/3-reasons-why-pgt-inc-123412207.html
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Mon, 08 Jun 2015 17:50:05 GMT ~ PGT Reaches 52-Week High on Recovering Housing Market - Analyst Blog


read full: http://finance.yahoo.com/news/pgt-reaches-52-week-high-175005883.html
*********************************************************

Mon, 08 Jun 2015 12:05:12 GMT ~ PGT (PGTI) Shares March Higher, Can It Continue? - Tale of the Tape


read full: http://finance.yahoo.com/news/pgt-pgti-shares-march-higher-120512390.html
*********************************************************

$PGTI charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$PGTI company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/PGTI/company-info
Ticker: $PGTI
OTC Market Place: Not Available
CIK code: 0001354327
Company name: PGT, Inc.
Incorporated In: DE, USA


$PGTI share structure

## source: otcmarkets.com

Market Value: $723,375,216 a/o Jun 19, 2015
Shares Outstanding: 47,747,539 a/o May 06, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01

$PGTI extra dd links

Company name: PGT, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PGTI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PGTI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PGTI+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/news - http://finance.yahoo.com/q/h?s=PGTI+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PGTI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PGTI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PGTI
DTCC (dtcc.com): http://search2.dtcc.com/?q=PGT%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=PGT%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=PGT%2C+Inc.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PGTI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001354327&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PGTI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PGTI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PGTI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PGTI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PGTI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PGTI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PGTI+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PGTI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PGTI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PGTI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PGTI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PGTI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PGTI/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PGTI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PGTI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PGTI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PGTI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PGTI



$PGTI DD Notes ~ http://www.ddnotesmaker.com/PGTI
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FUNMAN FUNMAN 9 years ago
PGT Reaches 52-Week High on Recovering Housing Market - Analyst Blog

Zacks By Zacks Equity Research
5 hours ago

On Jun 5, 2015, shares of PGT, Inc. PGTI scaled a new 52-week high of $13.58, before closing a notch lower at $13.53. The new high came on the back of benefits expected from demand in the repair and remodeling market, strategic acquisitions, expansion of its product offerings and productivity improvement.

This Florida-based manufacturer and supplier of residential impact-resistant windows and doors has a market cap of $646 million. PGT has delivered a solid year-to-date return of about 40.5% and an impressive one-year return of over 62%, outperforming the S&P 500.

The average volume of shares traded over the last three months was roughly 277K. The company has outperformed the Zacks Consensus Estimate in two of the four trailing quarters with an average positive surprise of 8.23%.

Growth Drivers

PGT posted adjusted earnings of 14 cents per share in the first quarter of 2015, which doubled from the prior-year quarter’s earnings of 7 cents. Sales also improved around 52% year over year to $95.3 million due to growth in demand and contribution from the CGI acquisition.

For the second quarter of 2015, the company guided sales in the range of $99 million and $102 million based on both organic growth and benefit from the CGI acquisition along with continuous investment in increasing capacity. PGT expects gross margin in the band of 32% and 33% for the second quarter driven by current sales mix and improved operational performance.

Single family housing starts in Florida in the first quarter were approximately 13,300, up 4% from the year-ago quarter. PGT believes that Florida’s economy and population will continue to grow and over time reach the historical average of approximately 110,000 annually.

PGT’s improved operational performance and the new glass plant will aid margin growth. Further, the company is looking forward to the completion of the second phase of the glass plant expansion in the third quarter of 2015.

Notably, PGT’s acquisition of CGI presents an exceptional opportunity for the company. The acquisition will help PGT to diversify and broaden its product portfolio while expanding its manufacturing footprint and providing synergies by maximizing efficiencies and scale.

Moreover, the CGI acquisition and the launch of its new vinyl WinGuard and EnergyVue products in first-quarter 2015 will help PGTI to benefit from the rebounding housing market and recovery in new housing construction in its primary markets of Florida.

PGT currently has a Zacks Rank #2 (Buy).

Other Stocks to Consider

Other stocks in the same industry worth considering are Headwaters Incorporated HW, Quanex Building Products Corporation NX and Aspen Aerogels, Inc. ASPN. While Headwaters and Quanex Building carry a Zacks Rank #1 (Strong Buy), Aspen Aerogels holds the same rank as PGT.

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To read this article on Zacks.com click here.

Zacks Investment Research
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FUNMAN FUNMAN 9 years ago
Very interesting. In that sector I own KMI. They bought, are refurbishing or are contracting to build 10 LNG transports. It is the biggest elephant in the sector. I started with EL Paso in 2009. KMI bought them. It's been a very good run with a great dividend.

I will look into it GLOP.

On PGTI, I started treating/buying PGTI like one of my Steak Dinner Investments. Scaling in starting 1.5 years ago. I even bought them at $12. But when they dropped into the $7's and $8's I was excited. I thought folks totally misunderstood this company. I took advantage of it.

Because of covenants in their loan agreements, they are prohibited from issuing dividends. They don't care right now. The recession smacked them pretty good. For a few years now they have been positioning themselves for growth. Like another company I own (CGI ... trucking), they are "becoming" serial acquirers of other companies ala` Cisco.

I like what they are doing, and will buy on significant dips like I did yesterday. I see nothing but upside as long as the economy stays at this level or gets better.

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Jld3294 Jld3294 9 years ago
Thanks for making it easy on me. I'm putting this on my radar if it cools off a little. It looks good today.

I also like and own GLOP. Check that out. Not many know about this company it is medium cap
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FUNMAN FUNMAN 9 years ago
PGT's - Earnings Call Transcript - To save time see blue highlights

PGT's (PGTI) CEO Rod Hershberger on Q1 2015 Results - Earnings Call Transcript
May. 7, 2015 2:06 PM ET | About: PGT, Inc. (PGTI)
PGT, Inc. (NASDAQ:PGTI)

Q1 2015 Results Earnings Conference Call

May 07, 2015 11:00 AM ET

Executives

Brad West - Chief Financial Officer

Rod Hershberger - Chairman and CEO

Jeff Jackson - President and COO

Analysts

Steve Dyer - Craig-Hallum

Robert Wetenhall - RBC Capital Markets

Ken Zener - KeyBanc

Jeremy Hamblin - Dougherty & Company

Operator

Good day, ladies and gentlemen and welcome to the PGT First Quarter 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]. And as a reminder, this conference call is being recorded.

Now, I will turn the conference over to your host Brad West, Chief Financial Officer. Please begin.

Brad West - Chief Financial Officer
Good morning, everyone and welcome to PGT’s quarterly investor conference call. I am Brad West, CFO and I am joined today by Rod Hershberger, our Chairman and CEO; and Jeff Jackson, President and COO.

This morning, we are pleased to provide an update on our first quarter results as well as an outlook for our second quarter 2015. Hopefully, everyone reviewed our earnings release issued yesterday.

Before we begin, let me remind everyone that today’s conference call may contain statements concerning the company’s future prospects, business strategies and market outlook. Such statements are considered to be forward-looking. These statements do not relate strictly to historical or current facts, rather they are based on our current expectations and are subject to risks and uncertainties. Actual results may vary materially from those contained in the forward-looking statements.

Please refer to our press release, our most recent Form 10-K, and other documents filed with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements. A copy of our press release is posted on the Investor Relations section of our corporate website at www.pgtindustries.com and included in the press release are the unaudited, condensed, consolidated balance sheets and statements of operations prepared in accordance with GAAP and adjusted information, which was quantitatively reconciled to GAAP.

Our company uses non-GAAP measurements as key metrics for evaluating performance internally. A detailed explanation of these non-GAAP measurements can be found in our press release, which was included as an exhibit to our Form 8-K filed with the SEC. These non-GAAP measurements are not intended to replace the presentation of financial results in accordance with GAAP. Rather we believe these non-GAAP measurements provide additional information for investors to facilitate the comparison of past and present performance. We will provide an overview of our performance for the first quarter ended April 4, 2015. After our prepared remarks, we will have ample time to address any questions that you may have.

With that, let me turn the call over to our President and Chief Operating Officer, Jeff Jackson. Jeff?

Jeff Jackson - President and COO
Thanks, Brad and good morning, everyone. We are very pleased with our first quarter results which reflect continued market share gain, improved operating performance after a challenging fourth quarter and an exciting start to our 2015 year.

Highlights include consolidated sales of $95.3 million, our highest quarterly sales level since the third quarter of 2006, led by increases in our impact-resistant products, operational improvements including a decrease in our cost of glass due to our increased capacity to manufacture our own and improvements in both labor and scrap, launches new product, our exceptionally designed vinyl WinGuard and our new EnergyVue product lines and an increase in our workforce to over 2,000 employees.

We have been the leading impact-resistant window and door company in Florida for many years. So, it is no surprise that our impact-resistant products continue to lead the way in our quarter-over-quarter sales increase and represented 81% of our sales. Including sales of our recent acquisition, CGI which products are all impact-resistant, builds a $95.3 million increase, 51.9% over last year, led by impact-resistant products which grew 60% over the first quarter of last year. This growth includes 32% sales increase for our flagship brand WinGuard. Sales of non-impact products represented 19% of first quarter sales, growing 25% over last year. Also in the quarter, 59% of sales were from the repair and remodeling market, up 39% over the first quarter of last year, while sales into the new construction market represented 41%, growing 76%.

We continue to deliver results, even though single family housing starts in Florida in the first quarter were approximately 13,300, only up 4% over last year’s first quarter. We believe Florida’s economy and population will continue to grow and will over time reach the historical average of approximately 110,000 annually. Additionally, based off our historical results and certain strategic initiatives, we believe we will continue to outperform the growth in housing market and continue to capture additional market share.

From a margin standpoint, we benefitted during the quarter from improved operational inefficiencies and the impact of our new glass plant. These improvements demonstrate our commitment to strategic initiatives in both training our employees and capital projects that result in long-term margin enhancement. We continued our investment in the first quarter by bringing on our fourth automated glass insulating plant and are currently in the process of bringing on our third landing line scheduled for the back half of this year, both supporting the increased market demand for impact products and energy efficient products.

During the first quarter, we also launched our new vinyl WinGuard and EnergyVue product line designed to capitalize on the energy codes in Florida and greatly improve not only the aesthetics in number of options available in vinyl and impact products but also the consideration options and performance levels relative to other products currently available on the market. Feedback has been very positive from our customer base. And we expect a six to nine-month period of transition from our existing vinyl lines.

At the heart of our success is our dedicated hardworking employees. At the beginning of 2013, we had just over 1,000 employees. In the past two years, we have doubled our workforce. We’re continually investing in our employees through training, continuing education, skill development and other initiatives. In doing so, we give our employees everything they need to deliver on PGT’s value proposition of outstanding, high quality products with excellent customer service.

Looking forward into 2015, we believe the improvements we realized in the first quarter will be sustained as we continue to invest in increasing our capacity to meet demand. Also organic sales growth of 8% in April over prior year has led to a promising start for our second quarter 2015. We’re well on our way to another great year for PGT.

With that I’ll turn the call back over to Brad who will review the results of the first quarter in greater detail.

Brad West - Chief Financial Officer
Thank you, Jeff. As Jeff mentioned, we reported sales of $95.3 million, up 51.9 % over prior year with organic sales growing to $82.4 million, up 31.4%, representing our highest quarterly sales announced since the third quarter of 2006.

Breaking down our sales drivers compared to 2014’s first quarter, we have WinGuard sales at $59.4 million versus $45.0 million, an increase of $14.4 million or 32.1%; vinyl non-impact sales of $10.5 million versus $7.9 million, up $2.6 million or 32.9%; aluminum non-impact sales of $8.0 million versus $6.8 million, up $1.2 million or 17.3%; PremierVue sales were $2.4 million versus $1.8 million, an increase of $600,000 or 33.8%; system sales of $2.1 million versus $1.2 million, an increase of 900,000 or 71.3%; and CGI sales were $12.9 million.

Gross margin dollars increased $11.3 million or 57.0% over the first quarter of 2014. Our gross margin of 32.6% increased as a percent of sales by 1.1%, compared to the same period last year. As Jeff previously mentioned, we benefited from lower glass cost as a result of increased internal glass processing capacity. We also showed improvement in scrap and efficiencies. Our margin was also favorably impacted by the increased volume resulting in the higher contribution margin and the addition of CGI. Offsetting these beneficial factors were the negative impact of an increase in overhead to support demand and higher aluminum costs.

To quantify these factors, our increase in gross margin as a percent of sales of 1.1% was driven by decreased glass costs to an increase in internal glass processing capacity, 90 basis points; improved scrap and labor efficiencies; 90 basis points; improved leverage from higher volume, 70 basis points; and the addition of CGI, 70 basis points. These positive factors were partially offset by an increase in overhead cost of 100 basis points and an increase in the cost of aluminum of 90 basis points. The remaining 20 basis-point decrease was due to other non-specific factors.

Our new glass facility is specifically designed to increase our internal capacities for finished glass units. However, the actual impact will vary from quarter-to-quarter based on top line sales and our internal capacities which will increase with the installation of our laminating equipment early in the back half of this year.

With regard to aluminum, our average delivered cost of aluminum was approximately $1.10 per pound during the quarter, all comprised of spot purchases as our aluminum hedges are all considered to be ineffective. This compares to an average delivered price of $0.96 per pound during the first quarter of 2014. This represents a 15% increase in average price per pound of aluminum since last year, which we estimate had a negative impact to material costs of approximately $746,000 in the quarter. To cover our aluminum needs in the near-term during the first four months of 2015, we entered into contracts for future purchases of aluminum with our two largest U.S. vendors of aluminum extrusion.

As of today, these contracts run through December 2015 and are for total 7.9 million pounds aluminum at an average delivered price of $1.05 per pound. This average price per pound includes components for the LME and Midwest premium components but excludes conversion costs. As of today, including these future purchase contracts, we are covered for approximately 57% of our estimated need through the fourth quarter of 2015 at an average price of $1.08 per pound and the current delivered cash price of approximately $1.03 per pound.

We leveraged revenue growth during the quarter to reduce selling, general and administrative expenses as a percent of sales to 18.5% compared to 21.3% in the first quarter of 2014. Our selling, general and administrative expenses were $17.7 million, an increase of $4.3 million from the first quarter 2014. Included in SG&A expenses for the quarter are CGI expenses of $2.8 million which includes $800,000 in non-cash amortization expense relating to CGI’s amortizable intangibles. With the acquisition of CGI, we acquired certain amortizable intangible assets.

SG&A expense will continue to be higher during the rest of 2015 due to higher non-cash amortization expense related to the amortizable intangible assets. We estimate the annual total will be $3.5 million in 2015 or approximately $850,000 per quarter. Other SG&A highlights include an increase in employee related cost of $1.0 million, an increase in selling and distribution costs to $700,000 consistent with higher sales, and an increase of $200,000 of non-cash dock based compensation expense. These increases in SG&A were partially offset by decrease of $400,000 and intangible asset amortization due to pre-acquisition intangible assets becoming fully amortized in last year’s first quarter.

Interest expense was $2.9 million compared to $900,000 in the first quarter of 2014. The increase from prior year relates to the higher outstanding debt level as a result of the refinancing in September 2014. Depreciation and amortization recorded in the first quarter was $2.4 million compared to $1.4 million last year. Going forward, as a result of the acquired intangibles and depreciation related to the new glass facility, depreciation and amortization expense is expected to be between $10 million and $11 million for the year.

Our tax expense in the first quarter was $3.7 million and represents an effective income tax rate of 35.9%, this compared to $2.0 million and 37.0% in the first quarter of last year. Both effective tax rates are lower than our statutory rate of approximately 38.8% due mainly to the impact of the Section 199 domestic manufacturing deduction. Going forward, we expect to record tax expense at effective rate of between 36% and 37%. Also from a cash perspective, our year-end 2014 estimate of our tax affected federal operating loss carry forwards was approximately $6.1 million, mostly acquired in CGI acquisition.

We had net income in the first quarter of $7.0 million or $0.14 per diluted share after adjusting for certain new product launch costs and insulated glass line start up costs versus $3.4 million or $0.07 per diluted share in the first quarter of 2014. Adjusted EBITDA was $16.2 million in the first quarter of 2015 compared to $7.6 million for the first quarter of 2014. And included in adjusted EBITDA in the first quarter of 2015 is $2.9 million of EBITDA from CGI. A reconciliation of net income and EBITDA which I have just discussed has been included in our earnings release for your reference.

We ended the year with the cash balance of $48.7 million, which is up $6.2 million from the end of 2014. Our cash growth was achieved despite capital spending of $4.0 million, all funded by $10.2 million in cash from operations, this compares to $3.5 million in the first quarter of 2014, an increase in cash from operation of $6.7 million. We anticipate consolidated capital spending requirements in 2015 to range from $15 million to $18 million as additional glass equipment is required to service the increasing consolidated sales. With $48.7 million of cash on hand, our current net leverage is 2.3 times and we have a strong balance sheet with ability to make further acquisitions and fund future needs.

For the second quarter of 2015, we anticipate quarter-over-quarter growth to continue, both organically and through our acquisition of CGI and estimate that consolidated sales will range between $99 million and $102 million. Given our current sales mix and improved operational performance and expected need to outsourced glass, we anticipate second quarter 2015 gross margin range between 32.0% to 33.0%.

At this time, I will turn the call over to our CEO, Rod Hershberger for summary remarks.

Rod Hershberger - Chairman and CEO
Thank you, Brad. We are off to a solid start in 2015. Our top line growth continues to significantly outpace our underlying markets. And this quarter makes nine consecutive quarters that our new construction sales growth has exceeded 30% with five of those quarters exceeding 50%. The acquisition of CGI continues to exceed our expectations and we look forward to additional synergies as we move toward 2016 including our glass capacity expansion which will allow us to bring our CGI glass need into our own glass operations beginning in the back half of 2015. Lastly, the PGT family continues to grow. We have reached 2,000 employees for the first time since 2007 at which time we had approximately 2,600 employees with a sales run rate about equal to where we are today.

Looking ahead, our priorities include expanding our leadership position in our established markets. We have demonstrated that we are willing to make strategic investments to achieve this goal through acquisition, new product development and launch, and investing in our people and our infrastructure. For the rest of 2015, we expect to continue to outpace our underlying markets in terms of topline growth.

We will make strategic decisions that keep us on course and ahead of our competitors. We will only make investments that meet or exceed our minimum requirements for growth and long-term profitability.

I am thankful for the dedication and effort put forward by all our team members who have worked hard to help us realize our strategic initiatives. I am excited to be part of an enthusiastic leadership team whose commitment to unparalleled customer focus and quality are second to none. I’d like to take a minute to brag about our PGT team. In less than a year’s time, in fact in about nine months, we opened in approximately 100,000 square foot glass facility, we acquired our largest competitor in the South East Florida market and we executed the largest product launch in our 35-year history. I’m extremely proud of this very talented team.

With that I’ll conclude. Brad, Jeff and I will be happy to answer your questions about our results. Kerion, if you can get the first question please.

Question-and-Answer Session

Operator

[Operator Instructions]. Our first question is from Steve Dyer of Craig-Hallum.

Steve Dyer - Craig-Hallum
So, it seems from what I can gather that you’re still adding headcount pretty aggressively that to keep up with demand. Do you anticipate -- from EBITDA margin perspective, do you anticipate any sort of further efficiency or inefficiencies I guess I should say or do you kind of feel like things are on the upswing there?

Jeff Jackson - President and COO
I think we will continue to add headcount like you mentioned Steve. By the end of the year, I could see us being at approximately 2,200 folks, companywide including at CGI. As we add those individuals, we have kind of cost over that threshold where the impact is not as great as it was in the earlier years. So, I’m comfortable the margins currently as I’ve mentioned in the press release of 32% to 33% and increasing as we obviously leverage our fixed cost with more volume. I don’t see any big hurdles out there in terms of chunks of employees that we had to add like we did in the past. I think we’re past that.

Rod Hershberger - Chairman and CEO
We’ve changed our orientation; we believe that’s being pretty successful. We’ve changed our shifts also. So, as we plug people in, we can bring them in on the proper shift and acclimate them a little bit easier, quicker and better than we have in the past. But we think that most of those inefficiencies are behind us.

Steve Dyer - Craig-Hallum
With that said, could you help me kind of think about operating expense levels, either in absolute terms or as a percentage of revenue going forward?

Brad West - Chief Financial Officer
When you think of operating expense, especially the SG&A category, I think sequential is the best way to look at it. In our first quarter, we had as previously mentioned, customer event that was about $600,000 that affected our first quarter results. Looking forward into second quarter, for SG&A you should see, obviously that would drop out but then you would see a change and that’s relative to sales and you have to kind of estimate what would be that fix-variable ratio. But I think these and sequential analysis makes lot of sense and the percent that we saw in the first quarter is pretty close to what your -- we should see going further the rest of this year.

Operator

Our next question is from Robert Wetenhall of RBC Capital Markets. Your line is open.

Robert Wetenhall - RBC Capital Markets
I was hoping you guy could provide a little bit color on how you think the mix between new res construction and repair and remodel spending will look this year as you move through 2015.

Rod Hershberger - Chairman and CEO
We finished the first quarter as we mentioned at repair and model at 59% and new construction at 41%. That’s in part the impact of CGI which actually ran in the quarter a little bit closer to 50/50 than legacy PGT did. Our expectation is that new construction sales will continue to go faster than our sales. We’ve seen that for the past eight quarters and I think that will continue. As Jeff mentioned, we are still quite a bit below the housing start normal range for our population. So, it’s hard to kind of guess where we think we’ll be at the end of the year. We did finish at 51 for new construction in the first quarter and we suspect that that will tick a little bit higher towards new construction as we go through the year.

Jeff Jackson - President and COO
I’ll just add a little bit to that. Typically based off the population of Florida, lot of the folks go back up North to their homes at North during the hot summer months. So that’s really when a lot of R&R activity will kick in. So, I do expect a healthy R&R market in the second and even into the third quarter. And that market like as historically will fall off generally in the fourth quarter when people are back down and you have a holidays. So, the percentages I don’t see changing materially from the first quarter, but I do see a healthy R&R market in both the second and third quarter.

Robert Wetenhall - RBC Capital Markets
And I just had follow-up, I think you’re releasing a new vinyl window under WinGuard line and I was hoping you could share a little bit of color what you’re seeing, both the pricing dynamics in the market and how the reception has been for new products? Thanks and great quarter.

Jeff Jackson - President and COO
Yes, we have a new platform for vinyl window; it’s both the re-launch of our WinGuard vinyl and what we’re calling our non-impact EnergyVue window. In terms of pricing, it’s relatively competitive with current market. While we’re the number brand, we offer the service to back that up. So, we’re going to be a little higher for the most part than our competition which is consistent. I think the biggest thing that this window will do to the market is capture share from our competitors and the various features we offer from painting to different hardware options. The overall quality of the window, the pressures we were able to reach with vinyl that hadn’t been reached before, it will actually allow it to penetrate into the aluminum market as well. So we’re very happy, I guess is the word I’ll use excited, our dealer base is excited and obviously with the energy codes coming out as pretty strong here in midyear change, we think this window just knocks it out of park.

Operator

Our next question is from Ken Zener of KeyBanc. Your line is open.

Ken Zener - KeyBanc
It sounded like you’ve talked about a six-month to nine-month rollout in a whole vinyl initiative which you have undertaken for a variety of reasons and plus you’ve addressed the 500 to 700 basis points gap of vinyl to aluminum. Should we assume given 6 to 9 months that essentially by December, you would have closed that gap on vinyl which represents 30% of your business?

Brad West - Chief Financial Officer
No. Ken, that transition period is a sales cycle transition. The margin gap will take a little bit longer because there is going to be -- part of that improvement is in our ability to produce it with less labor cost and less labor hours and that actually we expect to take more like 12 to 18 months from now to fully achieve. So, while we’ll be on our way to closing that gap, I think it will still be still be 2016 before you can see that that gap is going.

Jeff Jackson - President and COO
But even with that gap, you’ll definitely see that change Ken, over time, over the course of this year but even with that gap as it replaces our existing vinyl WinGuard which is designed to do -- the margins there are better as well. So, you’re going to get benefit both on the difference we’ve always had in part between aluminum and vinyl and we’re actually going to get improvement on what vinyl we did sell.

Ken Zener - KeyBanc
The seasonal nature of your business requires you to outsource glass generally in 2Q, despite your overall increase in capacity. Could you quantify the -- I guess drag in 2Q that you associated with that outsourced glass, given you have 32% to 33% gross margin guidance? And I asked so we can have a better understanding of how ex that one factor, 2Q might move into 3Q, as well as quantify how much benefit you can get from CGI glass come in-house in the back half in general, two items? Thank you.

Brad West - Chief Financial Officer
Ken, with regard to the second quarter, the part of the reason why we give a range that we do is because a lot of that will depend upon the mix of products that we sell. When we sell more new construction, our requirements for outsourcing isn’t as high as that when we saw customers’ example. So, in the second, when you look at that range of glass that will have to be outsourced if there is a higher R&R market, we have to outsource more. And I think what we’ve mentioned in the past is that our benefit to pick up leverage in the second quarter from higher sales will likely be somewhat mitigated by the glass. And I can’t really be more specific than that, but that’s kind of the theory that one would use. Going into third quarter when the laminated line comes up and that’s when we pick up the rest of that 2% that we talked about in the past that we’ve been looking for year-over-year improvement, we’ve mentioned 100 bps in the first quarter for glass being in house; we wanted to average 2% for the entire year. That’s because we’re expecting the back half of the year once the laminating line kicks in to be higher than that 2% help us get to that point, we average 2% for the year.

Ken Zener - KeyBanc
The back half is going to have the benefit from the glass that you’re talking about as well as less probably remodeling demand, so higher margin then the first half in generally would be a safe assumption?

Brad West - Chief Financial Officer
Yes. Definitely in our market the second and third quarters generally are strongest. But what helps us on margins in the third quarter is the laminating line coming in which gives us more opportunity and make the glass ourselves.

Rod Hershberger - Chairman and CEO
That’s in the back part of the third quarter also, so the impact will really be felt more from the laminating line in the fourth quarter.

Operator

[Operator Instructions]. Our next question is from Jeremy Hamblin from Dougherty & Company. Your line is open.

Jeremy Hamblin - Dougherty & Company
I had two points that I wanted to just ask about, one is the CGI business. I believe it looks like that business was up over 70% in the first quarter based on what you’d disclose previously. I want to see what was driving such an acceleration in that business; is it just a broader distribution network or anything particular to their core markets that is making it grow so fast?

Brad West - Chief Financial Officer
Actually I don’t know -- I’m not sure I get exactly 70%, I’m little bit closer to 50% to 60% Jeremy. But yeas -- for year-over-year. CGI sales has been growing at that high rate for several quarters. As you know they’re benefiting from being in a strong market in the Southeast Florida and are benefiting from obviously coming off a little bit of a low base, so they can grow a little bit higher percentages. Rod or Jeff, I don’t know if you want to add about CGI first quarter.

Jeff Jackson - President and COO
I think we both can shed a little color on that. From our perspective, they more than met our expectations in terms of their book of growth and there profitability so far as a part of PGT. The integration has been exceptionally smooth which again in turn allows us to further concentrate our efforts on a future acquisition, since this went so well and actually exceeded our thoughts. Rod, do you have any?

Rod Hershberger - Chairman and CEO
I think CGI’s markets to the trade, maybe a little bit more per PGT’s kind of consumer driven. So, I think with stronger new construction and more things participating in the commercial side coming out of the ground, they were able to benefit from some commercial projects that were coming out the ground early in the year. Typically commercial projects, they get planned but they don’t tend to really take off January, February and March and they saw a little bit more of that. So, they had an extremely good first quarter. So, I think that was a little bit benefit to them also.

Jeremy Hamblin - Dougherty & Company
And then as we look at the second quarter, I might have missed this but was there a guidance range provided for CGI in terms of we’re looking at kind of $14 million or $15 million out of your total guidance for the second quarter from CGI contribution.

Brad West - Chief Financial Officer
We do not give a specific number Jeremy but we did mention that our organic growth in April for PGT was 8% for the quarter. And from that you can see that the CGI’s organic growth will like be higher but we did not give a specific range.

Jeremy Hamblin - Dougherty & Company
And then just a follow-up on the glass plant expansion. I have in my notes that previously I think that you’ve been looking maybe to complete the lamination line by the end of June. It sounds like now it’s probably more in August to September timeframe. One, can you just clarify that that August September is what you’re expecting at this point? And then two, was there any potential delay in completing that lamination mine versus prior expectation?

Jeff Jackson - President and COO
I think in terms of actually completing the line, install et cetera, it will be the end of July. In terms of its benefit, it’s going to be closer to the end of the third quarter and obviously all of the fourth quarter. And when I say that I see that people train, spot up on the line and production ready. What we’ve learned is to not over promise on that after the fourth quarter, third and fourth quarter of last year. So, it generally takes us about a good eight-week once that launch actually ready to run before we start seeing the efficiencies in the flow with labor and get the benefit. So that’s probably more in line hopefully with what you’re thinking. If I had to say -- we probably may be three weeks behind right now but there is nothing driving that other than we’re very busy overall as a company.

Jeremy Hamblin - Dougherty & Company
And it sounds like the disruption that you’re expecting to the overall business is maybe a little bit less than when you were rolling out the new gas plant facility as a whole in Q3 and Q4 last year.

Jeff Jackson - President and COO
Yes.

Rod Hershberger - Chairman and CEO
Yes. This is one line in a facility as opposed to a brand new facility, a big difference for us.

Operator

There are no further questions at this time. I’d like to turn the call over to Mr. Brad West for any closing remarks.

Brad West - Chief Financial Officer
Thank you for joining us today. We look forward to speaking to you again next quarter. And if you have any further questions, please give me a call. Have a great day.

Operator

Ladies and gentlemen, thank you for your participation in today’s conference. This concludes the program. You may now disconnect. Have a wonderful day.

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Jld3294 Jld3294 9 years ago
It seems more like profit taking it has already had a nice run
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FUNMAN FUNMAN 9 years ago
They are growing revenues in two ways.

1) Organically as remodeling and new homes continue to trend upwards. In hurricane sensitive areas they sell the type of windows and doors that are "MANDATORY" by law.

2) They have proven to be "buyers" of other glass companies that can be accretive immediately.

They are growing margins by building and opening their own on-site glass factory.

So it's very difficult to understand how the Q is perceived badly.


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Jld3294 Jld3294 9 years ago
Hey Funman,

Based on current adjusted earnings, it looks like This company is set for around .60c-65c earnings this year. And with a 20X multiple it's about a $12-13 stock at reasonable value.

Unless of coarse their are a lot of catalysts for huge growth coming up.

I obviously don't know this company as much as you do, but from a fundamental earnings perspective it seems fairly priced to me. Quarter did look good tho
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FUNMAN FUNMAN 10 years ago
Early on, PGTI interested me, but when it was dropping like a rock, my conviction increased and I kept buying more on the way down.

The great housing numbers this week translated into a nice gain for PGTI. My average cost is $9.5025 so I am finally making money.

02/07/14 11.0592
02/11/14 10.6596
02/20/14 12.1898
05/07/14 9.9298
05/09/14 8.7795
05/16/14 7.9898


I think PGTI is going to rise further after they announce the opening of their new factory which should allow them to increase their gross profit.

The added revenues from their acquisition should also pump up their top and bottom line.

PGTI should show more nice gains this year and push above even my highest purchase price.

I'm looking forward to the next Q already.
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FUNMAN FUNMAN 10 years ago
PGT is the biggest player in its specific market segment and has municipalities and insurance companies, policies and philosophies behind them.

New construction and renovations in "at-risk" weather related areas must use weather resistant construction techniques including windows and doors commensurate with the prevailing extreme weather conditions that are considered normal to those areas.

Though there are plenty of competitors, PGT is standing out among them with its a top quality products available exclusively through authorized dealers.

Rapidly rising revenues indicate satisfaction at the consumer and dealer levels.

Also, the big revenue jump happened before PGT is going to benefit from lower cost of goods, and manufacturing efficiencies, including inventory, shipping and transportation costs, once their new Florida factory opens later this quarter.

PGT is playing from strength and they are getting stronger. They might see their average daily trading volume start to rise indicating greater investor interest. Institutional holdings have increased all the way up to 86%. Just by building on their recent performance, PGTI should double within 12 - 18 months.
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woody85 woody85 10 years ago
Still blame the overall market for the low pps of PGTI. Should do very well in the long run IMO
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woody85 woody85 10 years ago
Nice! PGTI $20 stock soon IMO
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FUNMAN FUNMAN 10 years ago
$9.44 PGT, Inc. Real Time Stock Quotes

Up $2.05 Up 27.74%
*Real-Time - data as of 7/29/2014 9:50:03 AM

Terrific
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woody85 woody85 10 years ago
Wow huge news! acquisition of a Miami based company. ++plus blew the earnings out! Go PGTI. RE buying tomorrow$$

as we signed an agreement for the acquisition of CGI Windows & Doors Holding Inc.


Company History

1994 CGI receives Miami-Dade County approval for impact resistant windows and becomes one of the first manufacturers in the country to offer impact windows.

ETC...

http://cgiwindows.com/who-is-cgi-windows/company-history/
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FUNMAN FUNMAN 10 years ago
PGTI hits a home run.

http://finance.yahoo.com/news/pgt-reports-2014-second-quarter-232600243.html
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FUNMAN FUNMAN 10 years ago
Glad to see some sanity coming back to PGTI.
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FUNMAN FUNMAN 10 years ago
It was a nice week with a little bounce back.
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FUNMAN FUNMAN 10 years ago
I bought a bunch more at $7.89 on Friday.

PGTI is going down along with the general downward trend of the whole industry including Home Depot and Lowes. Nobody should be afraid of them having problems.

To me this looks like a great opportunity to buy into all of these stocks. PGTI keeps receiving accolades from the S & P and their product reviews are outstanding.

Jim Crammer said the same thing about Home Depot being a good buying opportunity before earnings last night.

PGTI as a company has to keep expanding their revenue stream, which I think will happen more easily once they open their new manufacturing facility.

They should have no trouble going back to $12 next year.
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woody85 woody85 10 years ago
Nice buy. This is why I love charts. Previous resistance becoming support (green line)... Watch next resistance at $9 ( red line). If it breaks we should see new highs. But of course it all depends on As long as housing remains strong










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FUNMAN FUNMAN 10 years ago
I doubled down on the drop and the great revenue increases.

When the new factory opens, the cost of goods will go down. As long as housing remains strong, PGTI should do great.
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