Trex Posts Net Loss in 1st Quarter of 2010
April 30, 2010 by admin · 2 Comments
Winchester, Va.-based Trex has announced a first-quarter net loss of $4.6 million, compared with a net loss of $3.1 million in the year-ago period.
Net sales for the quarter ended March 31 totaled $66.3 million, down 2% from net sales of $67.7 million for the 2009 first quarter.
“We are investing in our game-changing new product offering with the goal of further expanding our leading market share,” said president and CEO Ronald W. Kaplan. “Due to the widespread demand and expanded manufacturing capacity for Trex Transcend, we expect a solid second quarter with sales of $110 million. This would bring total first-half-2010 sales to $176 million, as compared with $159 million in the first six months of 2009.”
This drop isn’t too surprising considering the economic recession it has occurred in. Nearly every business’ profits are down. The difference with Trex is that they rebounded. This is because their product is both innovative and effective. Although they’re a socially responsible and environmentally friendly company, they do still take care of their bottom line.
Socially responsible indeed. I saw in an article in the Clarke Daily News that Trex donated a bunch of material to the Barns at Rose Hill project in Berryville. Kudos to Trex