Winchester, Va.-based Trex Company reported fourth-quarter sales of $63.8 million, an increase of 38% over the same quarter last year.
“We brought 2013 to a very strong finish,” said chairman, president and CEO Ronald W. Kaplan. “Expanded distribution and dealer demand across the country contributed significantly to sales and are helping us advance a key initiative -- increasing market share.”
For the three months ended Dec. 31, the company reported net income of $15.1 million, compared to a net loss of $3.6 million in last year’s fourth quarter.
Kaplan said the improving economy and the market acceptance of Trex’s “good, better, best” platforms were key drivers to full year growth. In 2013, net sales increased 11% to $343 million. Full-year net income increased to $34.6 million, up from $2.7 million in 2012.
Trex also announced a two-for-one stock split, the first stock split in the company’s history.