Trex Reports Profit For Q3 - Quick Facts

(RTTNews) - Trex Company, Inc (TREX) Monday reported a profit for the third quarter helped by revenue growth, compared with loss last year. In addition, the company has been authorized to buy back up to 2 million shares.

In the prior-year period, the company recorded charges of $22.9 million, including a $20 million rise in warranty reserve expenses for decking material made in Nevada before 2007.

The company recorded a net profit of $8.9 million or $0.28 per share, compared with a loss of $15.3 million or $0.45 per share last year.

On average, seven analysts polled by Thomson-Reuters estimated earnings to be $0.24. Analysts' estimates typically exclude one-time items.

Net sales increased to $95.5 million from $72.25 million last year. Analysts expected sales of $92.29 million.

Looking ahead, the company expects to generate sales of $70 million in the fourth quarter, and $388 million in 2014. Analysts expect fourth-quarter sales of $69.47 million and full-year sales of $383.41 million.