PGT, Inc. (NASDAQ:PGTI) Q4 2015 Earnings Conference Call - Final Transcript

Feb 25, 2016 • 08:30 am ET


PGT, Inc. (NASDAQ:PGTI) Q4 2015 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the PGT Incorporated fourth quarter 2015 earnings conference call [Operator Instructions].

I would now like to turn the call over to Mr. Brad West, Chief Financial Officer. Sir, you may begin.

Bradley West

Good morning, everyone, and welcome to PGT's fourth quarter financial results conference call. I am Brad West, CFO; and joined today by Rod Hershberger, our Chairman and CEO; and Jeff Jackson, President. This morning we're pleased to provide an update on our fourth quarter results as well as an outlook for 2016. We also have posted a presentation on the quarterly results in Investor Relations portion of our website.

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 fact, rather they are based on our current expectations and subject to risk and uncertainty. 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

Included in the press release, are the unaudited, condensed, consolidated balance sheet and statements of operations prepared in accordance with GAAP and adjusted information, which is quantitatively reconciled to GAAP and quarterly and full year combined sales and adjusted EBITDA as though our recent acquisition of WinDoor occurred at the beginning of 2015.

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 is included as an exhibit to our Form 8-K filed with the SEC today. 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.

With that, let me turn the call over to our CEO, Rod Hershberger.

Rodney Hershberger

Thank you, Brad. Good morning, everyone. As we celebrate our 35-years of being in business, we look back throughout the years and are incredibly proud of our achievements in this timeframe, as our company is now the largest provider of impact-resistant windows and doors in the United States. 2015 marked a significant year of growth and expansion, and we are incredibly pleased with what our team has accomplished. Our revenue for the year was a company record and our ERP system conversion is in its final stages.

As we began 2016, we foresee another year of growth four our company. Our recent acquisition of WinDoor expanded our product footprint and geographic presence in our primary Florida market. We will continue to execute on our long-term strategy to drive organic growth and augment