<SEC-DOCUMENT>0001157523-16-006346.txt : 20160801
<SEC-HEADER>0001157523-16-006346.hdr.sgml : 20160801
<ACCEPTANCE-DATETIME>20160801161155
ACCESSION NUMBER:		0001157523-16-006346
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160801
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160801
DATE AS OF CHANGE:		20160801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TREX CO INC
		CENTRAL INDEX KEY:			0001069878
		STANDARD INDUSTRIAL CLASSIFICATION:	LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
		IRS NUMBER:				541910453
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14649
		FILM NUMBER:		161797421

	BUSINESS ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
		BUSINESS PHONE:		5405426300

	MAIL ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51393493.htm
<DESCRIPTION>TREX COMPANY, INC. 8-K
<TEXT>
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      <font style="font-size: 16pt"><b>UNITED STATES</b></font>
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    <p style="text-align: center">
      <font style="font-size: 16pt">SECURITIES AND EXCHANGE COMMISSION</font>
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    <p style="white-space: nowrap; text-align: center">
      <font style="font-size: 16pt">WASHINGTON, DC&#160;&#160;20549</font>
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      <font style="font-size: 16pt">FORM 8-K</font>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      CURRENT REPORT<br>PURSUANT TO SECTION 13 OR 15(d) OF THE<br>SECURITIES
      EXCHANGE ACT OF 1934
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: left">
      Date of Report (Date of earliest event reported):&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">August
      1, 2016</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
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    <p style="text-align: center">
      <font style="font-size: 16pt">TREX COMPANY, INC.</font>
    </p>
    <hr style="height: 1.0 pt; color: #000000; width: 25%; text-align: center">


    <p style="text-align: center">
      (Exact Name of Registrant as Specified in Charter)
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    <p style="text-align: center">

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          Delaware
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 32%; padding-left: 0.0px" valign="top">
          001-14649
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 34%; padding-left: 0.0px" valign="top">
          54-1910453
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      </tr>
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        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction<br>of Incorporation)
          </p>
        </td>
        <td style="text-align: center; width: 32%; padding-left: 0.0px" valign="top">
          (Commission File Number)
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer<br>Identification No.)
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    </div>
    <p>
      <br>

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          <p style="margin-bottom: 0px; margin-top: 0px">
            160 Exeter Drive
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Winchester, Virginia
          </p>
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 50%; padding-left: 0.0px" valign="top">
          <br>
          22603-8605
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        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="top">
          (Address of Principal Executive Offices)
        </td>
        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="top">
          (ZIP Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="white-space: nowrap">
      Registrant&#8217;s telephone number, including area code:&#160;&#160;(540) 542-6300
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      Not Applicable
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 20%">


    <p style="text-align: center">
      (Former Name or Former Address, if Changed Since Last Report)
    </p>
    <p>

    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):
    </p>
    <p>
      [ ] Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)
    </p>
    <p>
      [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)
    </p>
    <p>
      [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))
    </p>
    <p>
      [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt">
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    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p style="text-indent: 30.0px">
      On August 1, 2016 Trex Company, Inc. issued a press release announcing
      financial results for the quarterly period ended June 30, 2016.&#160;&#160;A copy
      of such press release is attached hereto as Exhibit 99.1 and
      incorporated herein by reference.
    </p>
    <p style="text-indent: 30.0px">
      The information contained in this report on Form 8-K shall not be deemed
      to be filed for the purposes of Section 18 of the Securities Exchange
      Act of 1934 or otherwise subject to the liabilities of that Section.
    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d) Trex Company herewith files the following exhibit:<br><br>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td style="text-align: left; width: 7%; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit</b>
          </p>
        </td>
        <td style="text-align: left; width: 1%; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
        <td style="text-align: left; width: 92%; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          <b>Description of Exhibit</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 7%; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="text-align: left; width: 1%; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; width: 92%; padding-left: 0.0px" valign="bottom">
          Press release dated August 1, 2016
        </td>
      </tr>
    </table>
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    <p>

    </p>
    <p style="text-align: center">
      SIGNATURE
    </p>
    <p style="font-size: 10pt; text-indent: 60.0px">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p style="text-align: center">
      <br>

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          <p style="margin-bottom: 0px; margin-top: 0px">
            TREX COMPANY, INC.
          </p>
        </td>
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        <td style="width: 4%">

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        <td style="width: 46%">

        </td>
        <td colspan="2">
          &#160;
        </td>
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        <td style="width: 4%">

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        <td style="width: 46%">

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        <td style="width: 22%">

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          &#160;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="text-align: left; width: 46%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            August 1, 2016
          </p>
        </td>
        <td style="text-align: left; width: 22%; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Bryan H. Fairbanks
          </p>
        </td>
        <td style="width: 28%">

        </td>
      </tr>
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        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Bryan H. Fairbanks
          </p>
        </td>
      </tr>
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        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51393493-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Trex
      Company Reports Record Sales and Earnings in Second Quarter 2016</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>--Operating
      Leverage Continues to Drive Record Profitability--</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>-- Net
      Sales Increased 7% to $146 Million, consistent with guidance</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>-- Gross
      Margin was 41.9%, a 350 basis point improvement </b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>--
      Diluted EPS was $0.79, up 36% year-on-year</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      WINCHESTER, Va.--(BUSINESS WIRE)--August 1, 2016--Trex Company, Inc.
      (NYSE:TREX), the world&#8217;s number-one brand of decking and railing and
      leader in high-performance, low-maintenance outdoor living products,
      today reported financial results for the second quarter ended June 30,
      2016.
    </p>
    <p>
      <b>Second Quarter 2016 Results</b>
    </p>
    <p>
      Net sales for the second quarter of 2016 were $146 million, 7% above the
      $137 million reported for the comparable period in 2015. Gross margin
      was 41.9%, a 350 basis point increase from the 38.4% reported in the
      second quarter of 2015. The Company reported net income of $23.3
      million, or $0.79 per diluted share, up 24% and 36%, respectively from
      net income of $18.7 million, or $0.58 per diluted share, reported in
      last year&#8217;s second quarter.
    </p>
    <p>
      &#8220;This was another period of strong performance for Trex, reflecting the
      continuing build in demand for our market-leading products, the
      structural benefits of our recycled-content business model and ongoing
      manufacturing cost reductions, all of which are driving significant
      operating leverage,&#8221; noted James E. Cline, President and Chief Executive
      Officer.
    </p>
    <p>
      &#8220;The outdoor living category continues to grow, with exterior property
      improvements representing a large percentage of remodeling spend. Trex&#8217;s
      brand leadership and our array of customized product offerings have
      resulted in steady share gains in this expanding market. Similar to this
      year&#8217;s first quarter, we produced earnings growth that significantly
      outpaced revenue gains in the second quarter, thanks to a combination of
      lower input costs, manufacturing cost saving initiatives and increased
      capacity utilization, which resulted in a year-over-year expansion of
      350 basis points in gross margin to 41.9%.&#8221;
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
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        <div style="text-align: left">

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        <div style="text-align: center">

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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>First Half 2016 Results</b>
    </p>
    <p>
      Net sales for the first half of 2016 were $278 million, 8% above the
      $258 million reported for the comparable period in 2015. First half 2016
      gross margin was 42.8%, 370 basis points greater than the 39.1% reported
      in the first half of 2015. Net income for the first six months of 2016
      was $46.7 million, or $1.57 per diluted share, up 29% and 39%,
      respectively from net income of $36.3 million, or $1.13 per diluted
      share, reported for the first half of 2015.
    </p>
    <p>
      <b>Recent Business News/Recognitions</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        In May 2016, Trex won three Awards for Design Excellence (ADEX) from
        Design Journal for the following products: Trex Outdoor Storage
        (Platinum Award), Trex Pergola &#8220;Air&#8221; (Platinum Award), &amp; Trex Pergola
        &#8220;Vision&#8221; (Gold Award).
      </li>
      <li style="margin-bottom: 10.0px">
        A record number of elementary, middle and high schools nationwide
        participated in the Trex 2015-2016 Plastic Bag Recycling Challenge
        that culminated on Earth Day, collecting over 100 tons of plastic
        waste that instead of going into landfills will be converted into
        beautiful Trex decking.
      </li>
      <li style="margin-bottom: 10.0px">
        In June 2016, the Company introduced Trex Reveal&#8482; Lighting, bringing
        functionality and aesthetics to its aluminum railing line, making it
        easy for homeowners to effectively integrate light into their outdoor
        spaces.
      </li>
    </ul>
    <p>
      <b>Summary and Outlook</b>
    </p>
    <p>
      &#8220;First half 2016 results have put us on track to deliver strong earnings
      growth for the full year, driven by high single-digit sales growth and
      lower production costs.
    </p>
    <p>
      &#8220;We expect revenue for the third quarter of 2016 to be approximately
      $105 million, representing a 12% increase over last year&#8217;s third
      quarter. Gross margin comparisons are expected to continue to benefit
      from higher capacity utilization and cost savings. For full year 2016,
      we have increased our guidance for incremental margin to average 80%, up
      from our previous forecast of 60%.
    </p>
    <p>
      &#8220;Longer term, we see significant market opportunity. Trex brand
      recognition has never been higher, initial metrics indicate that our
      marketing campaigns are gaining traction with both the trade and
      consumers, and our innovative product line-up positions us for continued
      leadership in the decking and railing market supported by increased
      conversion from traditional wood products,&#8221; Mr. Cline said.
    </p>
    <p>
      <b>Second Quarter 2016 Conference Call and Webcast Information</b>
    </p>
    <p>
      Trex&#160;will hold a conference call to discuss its second quarter 2016
      results and other corporate matters on&#160;Tuesday, August 2<sup>nd</sup>,
      2016&#160;at&#160;8:00 a.m. ET. To participate on the day of the call, dial
      1-844-792-3734 or internationally, 1-412-317-5126 approximately ten
      minutes before the call and tell the operator you wish to join the&#160;Trex
      Company Conference&#160;Call.
    </p>
    <p>
      A live webcast of the conference call will be available in the Investor
      Relations section of the&#160;Trex Company website at <u>http://investor.trex.com/phoenix.zhtml?c=86979&amp;p=irol-irhome</u>.
      For those who cannot listen to the live broadcast, an audio replay of
      the conference call will be available on the&#160;Trex&#160;website for 30 days.
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      The statements in this press release regarding the Company's expected
      future performance and condition constitute &quot;forward-looking statements&quot;
      within the meaning of Section 27A of the Securities Act of 1933 and
      Section 21E of the Securities Exchange Act of 1934. These statements are
      subject to risks and uncertainties that could cause the Company's actual
      operating results to differ materially. Such risks and uncertainties
      include the extent of market acceptance of the Company's products; the
      costs associated with the development and launch of new products and the
      market acceptance of such new products; the sensitivity of the Company's
      business to general economic conditions; the impact of weather-related
      demand fluctuations on inventory levels in the distribution channel and
      sales of the Company&#8217;s products; the Company's ability to obtain raw
      materials at acceptable prices; the Company's ability to maintain
      product quality and product performance at an acceptable cost; the level
      of expenses associated with product replacement and consumer relations
      expenses related to product quality; and the highly competitive markets
      in which the Company operates. Documents filed with the Securities and
      Exchange Commission&#160;by the Company, including in particular its latest
      annual report on Form 10-K and quarterly reports on Form 10-Q, discuss
      some of the important factors that could cause the Company's actual
      results to differ materially from those expressed or implied in these
      forward-looking statements. The Company expressly disclaims any
      obligation to update or revise publicly any forward-looking statements,
      whether as a result of new information, future events or otherwise.
    </p>
    <p>
      <b>About Trex Company</b>
    </p>
    <p>
      Trex Company is the world&#8217;s largest manufacturer of high performance
      wood-alternative decking and railing, with more than 20 years of product
      experience.&#160;Stocked in more than 6,700 retail locations worldwide, Trex
      outdoor living products offer a wide range of style options with fewer
      ongoing maintenance requirements than wood, as well as a truly
      environmentally responsible choice.&#160;For more information, visit trex.com.
    </p>
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        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <b>TREX COMPANY, INC.</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <b>Condensed Consolidated Statements of Comprehensive Income</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          (In thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="top" colspan="5">
          <b>Three Months Ended</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30,</b>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="top" colspan="5">
          <b>Six Months Ended</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="2">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="2">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="2">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="2">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          146,450
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          136,779
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          278,126
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          257,579
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Cost of sales
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          85,040
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          84,255
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          159,089
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          156,808
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          61,410
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          52,524
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          119,037
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          100,771
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          24,795
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          22,472
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          45,407
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          43,064
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          36,615
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          30,052
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          73,630
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          57,707
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          458
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          188
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          1,030
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          325
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          36,157
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          29,864
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          72,600
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          57,382
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          12,878
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          11,149
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          25,919
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          21,114
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          23,279
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          18,715
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          46,681
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          36,268
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Basic earnings per common share
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          0.80
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          0.59
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          1.58
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          1.14
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Basic weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          29,264,362
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          31,735,333
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          29,481,042
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          31,709,645
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Diluted earnings per common share
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          0.79
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          0.58
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          1.57
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          1.13
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Diluted weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          29,423,845
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          32,142,939
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          29,642,287
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          32,119,026
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Comprehensive income
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          23,279
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          18,715
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          46,681
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          36,268
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="2">

        </td>
        <td colspan="8">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="10">
          <b>TREX COMPANY, INC.</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="10">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="10">
          (In thousands, except share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="3">
          <b>June 30,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="3">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          ASSETS
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="3">
          (Unaudited)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          Current assets:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,553
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5,995
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          95,654
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          47,386
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          18,756
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,104
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Prepaid expenses and other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          13,409
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          9,136
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          9,136
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          130,296
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          99,030
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          98,943
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          100,924
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          Goodwill and other intangibles
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,523
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,526
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top" colspan="2">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          2,037
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          1,518
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 40.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          241,799
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          211,998
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          LIABILITIES AND STOCKHOLDERS&#8217; EQUITY
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          Current liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,573
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,733
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accrued expenses and other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          29,465
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,891
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accrued warranty
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,825
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,825
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Line of credit
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          43,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          7,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          96,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          60,449
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,597
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,597
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Non-current accrued warranty
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,456
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,698
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          3,611
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          3,791
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 40.0px" valign="top">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          129,527
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          95,535
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          Stockholders&#8217; equity:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Preferred stock, $0.01 par value, 3,000,000 shares authorized; none
          issued and outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Common stock, $0.01 par value, 80,000,000 shares authorized;
          34,842,137 and 34,819,259 shares issued and 29,348,456 and
          30,904,530 shares outstanding at June 30, 2016 and December 31,
          2015, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          348
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          348
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          119,361
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          116,947
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          166,076
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          119,395
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Treasury stock, at cost, 5,493,681 and 3,914,729 shares at June 30,
          2016 and December 31, 2015, respectively
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (173,513
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (120,227
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 45.0px" valign="top">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          112,272
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          116,463
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 45.0px" valign="top">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          241,799
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          211,998
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="9">
          <b>TREX COMPANY, INC.</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="9">
          <b>Condensed Consolidated Statements of Cash Flows</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="9">
          (In thousands)
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="9">
          (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="top" colspan="7">
          <b>Six Months Ended June 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Operating Activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          46,681
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          36,268
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjustments to reconcile net income to net cash provided by
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          (used in) operating activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,322
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (589
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Stock-based compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,945
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,717
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gain on disposal of property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (204
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Excess tax benefits from stock compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (810
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,771
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other non-cash adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (285
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (270
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (48,268
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (88,074
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,348
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5,121
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Prepaid expenses and other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (67
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          979
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (161
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (104
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accrued expenses and other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (7,901
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (856
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Income taxes receivable/payable
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          11,937
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          11,360
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Net cash provided by (used in) operating activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          15,632
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (27,900
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Investing Activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Expenditures for property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (5,182
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (14,088
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Proceeds from sales of property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,349
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Purchase of acquired company, net of cash acquired
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (31
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (833
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (14,116
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Financing Activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Borrowings under line of credit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          194,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          118,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Principal payments under line of credit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (158,000
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (80,500
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Repurchases of common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (54,703
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (2,847
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Financing costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (485
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Proceeds from employee stock purchase and option plans
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          137
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          197
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Excess tax benefits from stock compensation
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          810
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          1,771
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Net cash (used in) provided by financing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          (18,241
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          36,621
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Net decrease in cash and cash equivalents
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3,442
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (5,395
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          5,995
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          9,544
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Cash and cash equivalents at end of period
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          2,553
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double; border-bottom-color: black" valign="bottom">
          4,149
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Supplemental Disclosure:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Cash paid for interest
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          696
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          284
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Cash paid for income taxes, net
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          13,982
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,342
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Trex Company, Inc.<br>Bryan Fairbanks<br>VP &amp; CFO<br>540-542-6300<br>or<br>MBS
      Value Partners<br>Lynn Morgen/Jon Friedman<br>212-750-5800
    </p>
    <p>

    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
