Gibraltar Industries, Inc. reported net income of $9.8 million on net sales of $266.4 million for the quarter and net income of $50.8 million on net sales of $1 billion for the 12 months ended December 31, 2004 — record quarterly and full-year sales and earnings for the company.

Fourth Quarter Results— Net income of $9.8 million reflects a 68% increase compared to $5.8 million in the fourth quarter of 2003. Earnings per share were $.33, compared to $.23 in the fourth quarter of 2003, an increase of 41%. Sales, $266 million, reflect a 44% increase compared to $185 million in the fourth quarter of 2003.

Full Year Results—Net income of $50.8 million reflects an increase of 88% from $27 million in 2003. Sales, $1 billion, represent an increase of 34% compared to $758 million in 2003. Earnings per share were $1.72, compared to $1.11 in 2003, an increase of 55%.

Comments—"Our 2004 results, measured by a number of financial and operational benchmarks, were the best in Gibraltar's history,” said Brian J. Lipke, Gibraltar's Chairman and CEO. “Our performance was driven by our efforts to build a company capable of producing consistent and steadily improving results by diversifying Gibraltar's market participation and focusing on operational improvements. We also continued Gibraltar's transformation by putting in place the organizational structure and systems that are necessary to support our growth. We actively continue to evaluate our portfolio of companies, which led to our recent decision to sell our Milcor subsidiary; that process continues.

“I want to personally thank and congratulate all 3,600 members of the Gibraltar Team for their hard work in 2004. Their contributions helped us produce record results and break through our long standing goals of $1 billion in sales and $45 million in net income,” said Mr. Lipke.

“Looking ahead to the first quarter, we expect our earnings per share will be in the range of $.33 to $.36 consistent with our operating plan, compared to $.32 in the first quarter of 2004, barring a significant change in business conditions,” said Mr. Lipke.

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 approximately 10,000 customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America. It has approximately 3600 employees and operates 72 facilities in 26 states, Canada, and Mexico.