Trex, maker of decking, railing, fencing and trim products, saw second-quarter net income more than double to $7.9 million from $2.6 million in the same period last year. Net sales fell 20 percent to $95 million from $118.8 million in the year-ago period.
The Winchester, Va.-based company credited expanded distribution capabilities for the gains, as well as success with new products, such as Escapes decking and Seclusions fencing products.
“We also continued to improve our productivity and reduce costs,” said president and CEO Ronald Kaplan. “In addition, we continued to manage liquidity well.”
Kaplan further outlined company predictions for further sales growth in the rest of the year, including an increase in sales by 12 percent to 21 percent in the third quarter.