
	Three Months Ended
	December 31, 2020		September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019		September 30, 2019		June 30, 2019		March 31, 2019
	(In thousands, except share and per share data)
Net sales	$	228,286	$	231,502	$	220,648	$	200,395	$	164,772	$	194,551	$	206,453	$	179,571
Gross profit	$	92,392	$	84,964	$	92,405	$	89,696	$	71,263	$	82,431	$	83,444	$	69,365
Net income	$	43,301	$	42,710	$	47,218	$	42,402	$	35,497	$	41,976	$	35,710	$	31,555
Basic earnings per common share	$	0.37	$	0.37	$	0.41	$	0.37	$	0.31	$	0.36	$	0.31	$	0.27
Basic weighted average common shares outstanding		115,791,757		115,773,030		115,733,934		116,259,058		116,591,434		116,800,120		116,972,384		117,086,956
Diluted earnings per common share	$	0.37	$	0.37	$	0.41	$	0.37	$	0.31	$	0.36	$	0.31	$	0.27
Diluted weighted average common shares outstanding		116,169,754		116,134,623		116,061,988		116,647,442		117,025,466		117,209,206		117,375,080		117,658,354

The operating results for Trex Residential have historically varied from quarter to quarter. Seasonal, erratic or prolonged adverse weather conditions in certain geographic regions reduce the level of home improvement

and construction activity and can shift demand for its products to a later period. The operating results for Trex Commercial have not historically varied from quarter to quarter as a result of seasonality; however, they are driven by the timing of individual projects, which may vary significantly each period.

On July 29, 2020, the Company’s Board of Directors approved a

two-for-one

stock split of the Company’s common stock, par value, $0.01. The stock split was in the form of a stock dividend distributed on September 14, 2020, to stockholders of record at the close of business on August 19, 2020. The stock split entitled each stockholder to receive one additional share of common stock for each share they held as of the record date. All common stock share and per share data for all periods presented in the accompanying unaudited condensed consolidated financial statements and notes thereto have been retroactively adjusted to reflect the stock split.