(CARY) -- Ply Gem Holdings, Inc., reported 2010 operating earnings of $56.8 million. This compared to operating earnings of $40.1 million for 2009.

“Ply Gem’s fourth quarter and full year results continue to reflect the challenging conditions that exist in the housing market today," said Ply Gem President and CEO, Gary E. Robinette. "Despite these challenging market conditions, Ply Gem’s operating performance improved in 2010 with demonstrated sales growth, improved operating earnings and increased Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization).”

Ply Gem also announced that it has completed a refinancing of its 11.75% Senior Secured Notes as well as its asset-based revolving credit facility. "As a result of these refinancing transactions, Ply Gem expects to realize annual cash interest savings of over $21 million, which will significantly improve our operating liquidity and further allow the business to reinvest for future growth,” said Robinette.

Cary-based Ply Gem is a leading manufacturer of residential exterior building products in North America.