| WINCHESTER, VA -- Trex Company, Inc., manufacturer and distributor of Trex decking, railing, fencing and trim, posted a net loss of $4.6 million for the 2010 first quarter compared to a net loss of $3.1 million for the 2009 period.
Net sales for the first quarter of 2010 totaled $66.3 million compared to net sales of $67.7 million for the 2009 first quarter. Gross margin declined 60 basis points from Q1 2009 due primarily to start-up costs associated with Trex Transcend.
President and CEO Ronald W. Kaplan commented, "Demand for our new ultra-low-maintenance product, Trex Transcend(R), has been exceptionally strong. Transcend's recent launch generated widespread excitement in the market place due to the offering's unique combination of aesthetics and practicality, as well as our industry-leading warranty. The complementary Transcend railing system, which lets consumers mix or match decking and railing components to create the customized look they want, is also proving very popular.
"We are also pleased by the continued demand for our other products. The enhancements we made to our decking platform in the fall of 2009 are opening up sales opportunities and contributing to our paramount objective of increasing market share. Our first brand extension licensing agreement, with Dri-Deck Enterprises, a proven leader in the deck water drainage systems category, is also off to a good start.
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