Gibraltar is raising its third-quarter earnings estimate to the range of $.76 to $.79. The anticipated results continue the trend of higher-than-expected levels of business activity and increased market penetration that began during the first quarter of the year.

On July 28, Gibraltar said that its third-quarter earnings per share would be in the range of $.61 to $.65, compared to $.49 in the third quarter of 2003, on approximately 22% more weighted average shares outstanding. The additional shares are the result of the company’s December 2003 common stock offering.

"In the third quarter — as was the case in the first six months of the year — all three of our business segments generated significant sales increases, and strong improvements in operating income. The continuing ramp-up of our national sales and marketing efforts, new products and services in all three of our business segments, and ongoing efforts to improve our operating performance allowed us to generate stronger-than-expected results in a quarter when our business historically begins to moderate," said Brian J. Lipke, Gibraltar's Chairman and CEO.

"As we move through 2004, we continue to benefit from the many steps we have taken to strategically reposition and strengthen Gibraltar, including the growth in many of our targeted areas like ventilation products, structural connectors, cold-rolled strip steel, and metal-joining and assembly services; our recent acquisitions; ongoing cost-reduction programs; and our many continuous improvement initiatives. We are also benefiting from an industrial economy that is showing sustained strength," said Mr. Lipke.

"We are also in the process of changing the legal name of our company — from Gibraltar Steel Corp. to Gibraltar Industries, Inc. — which better reflects our current business mix. The new name will clearly identify Gibraltar in the minds of our employees, customers, and shareholders as an industrial manufacturing company. We believe that our new name, along with continued strong operating performance, will improve our valuation potential," said Mr. Lipke.

Manufacturing and distributing more than 5000 residential and commercial building products, Gibraltar is a leading metal processor and North America's second-largest commercial heat treater. The company serves approximately 10,000 customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America, and is approaching $1 billion in annual sales. It has approximately 4000 employees and operates 75 facilities in 26 states, Canada, and Mexico.