Gibraltar Industries, Inc. reported net income of $12.7 million on sales of $282 million for the third quarter, and net income of $39.3 million on sales of $844 million for the nine months ended September 30, 2005.

Third Quarter Results—The $12.7 million net income from continuing operations compares to $15.8 million in the third quarter of 2004. Sales of $282 million reflect an increase of approximately five percent compared to $267 million in the third quarter of 2004. Earnings per share from continuing operations were $.43, compared to $.53 in the third quarter of 2004.

Nine Month Results—The $39.3 million net income from continuing operations compares to net income of $40.3 million in the first nine months of 2004. Sales, $844 million, reflect a 17% increase compared to $721 million in the first nine months of 2004. Earnings per share from continuing operations were $1.32 compared to $1.37 in the first nine months of 2004.

Comments—“As the third quarter progressed, and our inventory costs and selling prices came into better alignment, our margins began to stabilize, as expected. We also continued the scheduled reduction of our inventories by another $35 million during the quarter, and had strong cash flows from operations which were applied to debt reduction,” said Brian J. Lipke, Gibraltar’s Chairman and CEO.

“We have continued to implement our strategy of growth and diversification, most notably the four acquisitions we completed in the last six weeks that further expand our product offering and channels of distribution, diversify our customer base, and extend our geographic reach. These acquisitions, together with our ongoing efforts to grow and improve the operating efficiency of our existing businesses, will continue to strengthen Gibraltar,” said Henning N. Kornbrekke, Gibraltar’s President and Chief Operating Officer.

Acquisitions—Gibraltar acquired the Gutter Helmet^® product line on September 16; a copper powder manufacturing facility in Suzhou, China, on September 20; and American Wilcon Plastics, a manufacturer of plastic-injection molding products, on October 4. The company also completed the acquisition of AMICO, a U.S. market leader in the manufacturing of metal bar grating, expanded metal, and metal lath, as well as a number of other products, on October 3.

The AMICO acquisition is consistent with the company’s strategy of increasingly focusing on niche markets and high value-added products. It also provides the right strategic platform to allow Gibraltar to further diversify and expand its customer base, product offerings, and channels of distribution, while creating a platform for future growth. The AMICO acquisition, with a purchase price of $240 million, is the single-largest acquisition in Gibraltar’s history. The funds required to make the acquisition and prepay approximately $115 million of senior secured private placement notes, as well as approximately $26 million of seller notes from a previous acquisition, were provided by $300 million of new borrowings under a temporary credit facility underwritten by a consortium of banks led by KeyBank and increased borrowings under the company’s revolving credit facility.

Gibraltar anticipates replacing the temporary borrowings, as well as amounts borrowed under the revolving credit facility, with longer-term financing.

Outlook—Looking ahead, as the company moves into the seasonally slowest period for its business, Gibraltar expects its fourth-quarter earnings per share from continuing operations, before any non-recurring charges, will be in the range of $.30 to $.35, compared to $.32 in the fourth quarter of 2004, barring a significant change in business conditions.

As a result of the sale of the company’s Milcor subsidiary on January 27, 2005, the results of operations for Milcor have been reclassified as discontinued operations in the company’s income statements for all periods.

Gibraltar Industries is a leading manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets. The Company serves a large number of customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America. It has approximately 4,500 employees and operates 95 facilities in 29 states, Canada, Mexico, and China.