PGT Innovations
May 6, 2009

PGT Reports 2009 First Quarter Results

VENICE, Fla., May 6, 2009 (GlobeNewswire via COMTEX News Network) -- PGT, Inc. (Nasdaq:PGTI), the leading U.S. manufacturer and supplier of residential impact-resistant windows and doors, today announced financial results for its first quarter ended April 4, 2009.

"The downward pressure on the home building industry continued during our first quarter. Construction of single family homes is at its lowest level since data began being compiled in 1959. Housing starts were down 50% in our core market in the first quarter of 2009 compared to 2008, and our sales decreased 24.3%," said Rod Hershberger, PGT's President and Chief Executive Officer. "Declining home prices and low interest rates, combined with the tax incentives for first time home buyers from the federal stimulus package, provided some beneficial economic effects during the quarter. However, the continuing increases in unemployment and home foreclosures have eroded consumer confidence and, for many, delayed their goal of home ownership. As we have in the past, in order to adapt to these difficult economic conditions, we took actions during the first quarter of 2009 to better align costs with recent sales levels. We continue to move forward with new product offerings and line expansions and pursue growth opportunities both inside and outside of Florida. We are optimistic about our long-term growth as we continue to gain market share but, in the near-term, we remain focused on controlling costs and conserving cash."

2009 First Quarter:

(See accompanying financial schedules for financial details and reconciliations of adjusted (non-GAAP) financial measures to their GAAP equivalents.)



 * Net sales were $41.5 million in the first quarter of 2009, a
   decrease of $13.3 million, or 24.3%, compared to the first
   quarter of 2008.
 * Gross margin percentage in the first quarter of 2009 was 23.8%,
   compared to 29.3% in the first quarter of 2008.  The decline in
   gross margin was due mainly to declining operating leverage from
   lower sales.
 * SG&A was $15.0 million for the first quarter of 2009, a decrease
   of $1.3 million from $16.3 million in the first quarter of 2008.
   Lower personnel costs from cost-alignment initiatives and lower
   distribution and selling costs associated with lower sales
   volumes contributed to the decreases.  SG&A was 36.2% of sales
   for the first quarter of 2009 compared to 29.7% in the first
   quarter of 2008.  Excluding restructuring costs in each period,
   SG&A would have decreased $2.2 million.
 * There was a net loss in the first quarter of 2009 of $6.7 million,
   driven primarily by the loss of operating leverage due to the
   decrease in sales, restructuring costs of $3.0 million and the
   total offset of tax benefits generated in the quarter by an
   increase in the valuation allowance for deferred tax assets.
   There was a net loss in the first quarter of 2008 of $1.8 million,
   driven primarily by restructuring costs of $1.8 million.
 * Net loss per diluted share in the first quarter of 2009 was $0.19,
   compared to $0.06 in the first quarter of 2008.  On an adjusted
   basis, net loss per diluted share in the first quarter of 2009
   was $0.11, compared to $0.02 in the first quarter of 2008.
 * Adjusted EBITDA for the first quarter of 2009 was $2.0 million
   compared to $5.8 million in the first quarter of 2008.

Commenting on the first quarter of 2009, Jeff Jackson, PGT's Executive Vice President and Chief Financial Officer, stated, "Single family housing starts are down over 90% since their peak in mid-2005. Increasing unemployment, coupled with declining home values and stringent lending standards, has further weakened consumer confidence. Our sales continued to be impacted within this environment as first quarter sales fell $7.8 million, or 15.8%, from the fourth quarter of 2008, impacting our ability to leverage our fixed costs. These are the most difficult market conditions we have ever encountered but, due to continued focus on controlling costs and managing working capital, we generated an adjusted EBITDA of $2.0 million."

Conference Call

As previously announced, PGT will hold a conference call Thursday, May 7, 2009, at 10:30 a.m. Eastern Time and will simultaneously broadcast it live over the Internet. To participate in the teleconference, please dial into the call a few minutes before the start time: 877-879-6184 (U.S. and Canada) and 719-325-4787 (international). A replay of the call will be available beginning May 7, 2009, at 1:30 p.m. Eastern Time through May 21, 2009. To access the replay, dial 888-203-1112 (U.S. and Canada) or 719-457-0820 (international) and refer to passcode 4054086. The webcast will also be available through the Investor Relations section of the PGT, Inc. website, http://www.pgtinc.com.

About PGT

PGT(R) pioneered the U.S. impact-resistant window and door industry and today is the nation's leading manufacturer and supplier of residential impact-resistant windows and doors. PGT is also one of the largest window and door manufacturers in the United States. Founded in 1980, the Company employs approximately 1,250 at its manufacturing, glass laminating and tempering plants, and delivery fleet facilities in Florida and North Carolina. Sold through a network of over 1,300 independent distributors, the Company's line of custom windows and doors is now available throughout the eastern United States, the Gulf Coast and in a growing international market, which includes the Caribbean, South America and Australia. PGT's product line includes PGT(R) Aluminum and Vinyl Windows and Doors; WinGuard(R) Impact-Resistant Windows and Doors; PGT(R) Architectural Systems; and Eze-Breeze(R) Sliding Panels. PGT Industries, Inc. is a wholly owned subsidiary of PGT, Inc. (Nasdaq:PGTI).

The PGT, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4199

Forward-Looking Statements

Statements in this news release and the schedules hereto which are not purely historical facts or which necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to PGT, Inc. on the date this release was submitted. PGT, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the Company's revenues and operating results being highly dependent on, among other things, the homebuilding industry, aluminum prices, and the economy. PGT, Inc. may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of PGT, Inc.'s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.



                       PGT, INC. AND SUBSIDIARY
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
         (unaudited - in thousands, except per share amounts)

                                                  Three Months Ended
                                                ----------------------
                                                  April 4,   March 29,
                                                   2009        2008
                                                ----------  ----------

 Net sales                                      $  41,514   $  54,836
 Cost of sales                                     31,619      38,765
                                                ----------  ----------
   Gross margin                                     9,895      16,071
 Selling, general and administrative expenses      15,011      16,269
                                                ----------  ----------
   Loss from operations                            (5,116)       (198)
 Interest expense                                   1,578       2,727
 Other expense (income), net                            6        (107)
                                                ----------  ----------
   Loss before income taxes                        (6,700)     (2,818)
 Income tax benefit                                    --      (1,031)
                                                ----------  ----------
   Net loss                                     $  (6,700)  $  (1,787)
                                                ==========  ==========

 Basic net loss per common share                $   (0.19)  $   (0.06)
                                                ==========  ==========

 Diluted net loss per common share              $   (0.19)  $   (0.06)
                                                ==========  ==========

   Weighted average common shares outstanding:
 Basic                                             35,200      28,730
                                                ==========  ==========

 Diluted                                           35,200      28,730
                                                ==========  ==========



                        PGT, INC. AND SUBSIDIARY
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                             (in thousands)

                                                     (unaudited)
                                                ----------------------
                                                 April 4,    Jan. 3,
                                                   2009        2009
                                                ----------  ----------
                  ASSETS

 Current assets:
 Cash and cash equivalents                      $  16,273   $  19,628
 Accounts receivable, net                          17,070      17,321
 Inventories                                        9,493       9,441
 Deferred income taxes                                331       1,158
 Other current assets                               6,071       5,569
                                                ----------  ----------
   Total current assets                            49,238      53,117

 Property, plant and equipment, net                71,422      73,505
 Other intangible assets, net                      71,286      72,678
 Other assets, net                                  1,227       1,317
                                                ----------  ----------
   Total assets                                 $ 193,173   $ 200,617
                                                ==========  ==========

     LIABILITIES AND SHAREHOLDERS' EQUITY

 Current liabilities:
 Accounts payable and accrued expenses          $  14,400   $  14,582
 Current portion of long-term debt and
  capital lease obligations                           564         330
                                                ----------  ----------
   Total current liabilities                       14,964      14,912
 Long-term debt and capital lease obligations      89,778      90,036
 Deferred income taxes                             17,646      18,473
 Other liabilities                                  2,717       3,011
                                                ----------  ----------
   Total liabilities                              125,105     126,432

 Total shareholders' equity                        68,068      74,185
                                                ----------  ----------
 Total liabilities and shareholders' equity     $ 193,173   $ 200,617
                                                ==========  ==========



                       PGT, INC. AND SUBSIDIARY
             RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                      TO THEIR GAAP EQUIVALENTS
         (unaudited - in thousands, except per share amounts)

                                                 Three Months Ended
                                                ----------------------
                                                April 4,    March 29,
                                                  2009        2008
                                                ----------  ----------
 Reconciliation to Adjusted Net Loss and
  Adjusted Net Loss per share (1):

 Net loss                                       $  (6,700)  $  (1,787)
 Reconciling item:
   Restructuring charge (2)                         3,002       1,752
   Tax effect of reconciling item (3)                  --        (683)
                                                ----------  ----------
   Adjusted net loss                            $  (3,698)  $    (718)
                                                ==========  ==========

 Weighted average shares outstanding:
  Diluted (4)                                      35,200      28,730
                                                ==========  ==========

 Adjusted net loss per share - diluted          $   (0.11)  $   (0.02)
                                                ==========  ==========

 Reconciliation to EBITDA and Adjusted EBITDA:
 Net loss                                       $  (6,700)  $  (1,787)
 Reconciling items:
   Depreciation and amortization expense            4,096       4,185
   Interest expense                                 1,578       2,727
   Income tax benefit                                  --      (1,031)
                                                ----------  ----------
 EBITDA                                            (1,026)      4,094
 Restructuring charge (2)                           3,002       1,752
                                                ----------  ----------
 Adjusted EBITDA                                $   1,976   $   5,846
                                                ==========  ==========
 Adjusted EBITDA as percentage of net sales           4.8%       10.7%
                                                ==========  ==========



 (1) The Company's non-GAAP financial measures were explained in its
     Form 8-K filed May 6, 2009.

 (2) Represents charges related to restructuring actions taken in the
     first quarters of 2009 and 2008. These charges relate primarily
     to employee separation costs. Of the $3.0 million restructuring
     charge in 2009, $1.4 million is included in cost of goods sold
     and $1.6 million is included in selling, general and
     administrative expenses. Of the $1.8 million restructuring charge
     in 2008, $1.1 million was included in cost of goods sold and $0.7
     million was included in selling, general and administrative
     expenses.

 (3) In the first quarter of 2009, the tax benefit of the reconciling
     item is offset by an increase in the valuation allowance for
     deferred taxes.

 (4) Due to the net losses in 2009 and 2008, the effect of equity
     compensation plans is anti-dilutive. Weighted average common
     shares outstanding for 2008 has been restated to give effect to
     the market value premium contained in the rights offering at the
     time of the offering.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: PGT, Inc.

PGT, Inc.
          Jeffrey T. Jackson, Executive Vice President and C.F.O.
          941-480-2714
          jjackson@pgtindustries.com

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