Trex Company Inc. (TREX) posted a significantly narrower fourth-quarter net loss of $3.6 million, or $0.22 per share, versus a $18.3 million, or $1.18 per share loss, for the prior-year period. During the recent quarter, the company recognized a $1.5 million provision for costs related to the mold class action.
Before giving effect to that charge, the 2012 pro-forma net loss was $2.1 million, or $0.13 per share. During the 2011 quarter, the company recognized a $10.0 million increase to the warranty reserve for decking material manufactured at its Nevada plant prior to 2007. Before giving effect to that charge, the 2011 net loss was $8.3 million, or $0.54 per share.
On average, 7 analysts polled by Thomson Reuters expected loss per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales for the quarter reached $46.2 million, compared with $51.5 million for the 2011 fourth quarter. Analysts estimated revenues of $45.27 million for the quarter.
According to Trex, "With our expanded array of products, operational enhancements, innovative sales and marketing programs and an improving housing market, we expect 2013 to be a strong year for Trex. For the first quarter of 2013, we expect net sales to total $107 million, an increase of approximately 11 percent from the 2012 period."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.