Trex Company reports strong sales performance
coupled with low earnings
Winchester, VA— Trex Company,
Inc., manufacturer of Trex® decking and railing, announced
its financial results for the third quarter ended September 30,
Net sales for the third quarter
of 2005 totaled $77.4 million, compared to $64.4 million for the
third quarter of 2004.
The Company reported net income
for the 2005 third quarter of $5.2 million, or $0.35 per diluted
share, compared to net income of $7.1 million, or $0.48 per diluted
share, for the 2004 third quarter.
Chairman and chief executive
officer Anthony J. Cavanna said, “Sales in the third quarter
of 2005 rose 20% over the same period in 2004, driven by strong
acceptance of our premium decking products, Trex Accents®
and Trex Brasilia™.
This strong sales performance
also indicates that the high trade inventory levels we experienced
earlier this year are behind us. Our earnings, however, continue
to be negatively affected by increases in the price of plastic
raw materials and unabsorbed fixed manufacturing costs.”