Ply Gem Holdings, a Cary company that filed plans to go public last year, reported lower sales in the second quarter as demand for the company's building products continued to be hurt by softness in the housing market.
The company's second-quarter sales totaled 294.5, 2.4 percent lower than the same period a year ago; quarterly earnings were $28.5 million, down from $30.3 million from a year ago.
Ply Gem sells vinyl siding and other products for home exteriors. The company's financial performance is closely tied to housing starts, which have remained at low levels since the homebuyer tax credits expired last year.
"Given that market conditions for 2011 are expected to remain challenging, Ply Gem will continue to focus on maintaining a lean overall cost structure while maximizing cash flow and striving to outperform the marketplace in all business units, which will ensure that Ply Gem emerges stronger as the housing market recovers," said Gary Robinette, the company's CEO, in a release.