Window firm shares break $10 milestone

VENICE — Shares of PGT Inc., an impact-resistant window and door manufacturer, hit a milestone at the market close Monday when it ended the day at $10.

That was the highest close in more than four years, and more than $7 over its 52-week low of $2.63 a share. PGT Shares (symbol: PGTI) traded as high as $10.14 in midday trading July 11 and July 15, and closed at just less than $10 those days.

Shares of the Venice-based firm, which struggled during the recession, were in the $1 range in December 2011 and early 2012. But a rebranding effort, combined with a resurgence in the housing market, has fostered the comeback. Annual revenues at the firm, for example, increased 4.3% in 2012, from $167.2 million in 2011 to $174.5 million. The company also posted a $9 million profit in 2012, or 17 cents per share. That was a $25.9 million turnaround from 2011, when PGT lost $17 million, or 31 cents per share.

PGT has also announced two major partnerships in the past month. One, announced in June, is a deal with PulteGroup Homes, where the homebuilder will use PGT windows and doors in construction of homes in eight communities statewide, including Fort Myers, Naples, Sarasota and Venice. And on July 22 officials announced that Menards, a chain of nearly 300 home improvement stores in the Midwest, will carry PGT's Eze-Breeze product line, a porch and patio enclosure system.

PGT, with 1,300 employees out of its north Venice facility, is one of the largest private employers in Sarasota County. The firm is scheduled to release second quarter earnings Aug. 1.