Nov. 4 Earnings: PGT, Inuvo

PGT Inc.
The Venice-based window and door manufacturer managed a 13.4% increase in quarterly sales over the year, with $47.2 million in business completed. That helped the company nearly break even, posting a net loss of just $207,000 compared to the $2.5 million lost in last year's third quarter.

CEO Rod Hershberger said an uptick in housing activity in Florida helped boost the company's financials. “Housing starts in Florida increased 15% compared to the third quarter of 2009,” Hershberger said in a release, which led to an 18.5% over the year increase in Florida sales for the company.

PGT employs roughly 1,200 at its manufacturing facilities in Florida and North Carolina.

Inuvo Inc.
Business is picking up for Inuvo the Clearwater-based online technology and services business. The company's $14.3 million in third quarter revenues represents a 53% over the year increase.

But overall profitability once again eluded Inuvo in the three months ended Sept. 30, as the firm lost $2.2 million in the quarter, up 10% from a year ago. Inuvo has now lost $3.4 million in the first nine months of 2010, due in large part to the sale of its advertising agency operations, which cost $1.5 million.

The company reduced its bank debt by $3.2 million over those nine months, but continues to owe $5 million going forward.

Inuvo provides online marketing services designed to generate sales leads for its clients.

Walter Investment Management Corp.
Walter Investment Management earned $9.7 million in net income in the third quarter, profiting from its asset management practice that focuses largely on subprime mortgage loans.

The annualized yield earned from its asset portfolio was 10.14% for the quarter. Combined with its 6.75% interest costs on outstanding debt, the rate gives Walter Investment a 5.15% net interest margin for the quarter.

The Tampa-based company currently manages $1.8 billion in assets.