PROVIDENCE, RI, May 6, 1998-Nortek, Inc. (NYSE:NTK) today reported strong net sales, EBITDA and earnings from continuing operations for the first quarter ended April 4, 1998.

For the 1998 first quarter, the Company's net sales were $392.5 million versus $194.2 million a year earlier. First-quarter 1998 net sales included $172.6 million from the acquisition of Ply Gem Industries, Inc. in August, 1997. EBITA for the quarter was $29.7 million and pre-tax earnings from continuing operations were $2.5 million. Earnings from continuing operations per diluted share were $.13 versus a pro forma, as adjusted, loss of $.06 for 1997 and analysts' estimates of a $.04 loss for 1998.

First-quarter revenues reflect an approximate 13-percent increase from Nortek's 1997 level for existing businesses plus the revenue contribution from the Ply Gem acquisition. Operating result, due to the seasonal nature of the Ply Gem Windows, Doors and Siding Group with their heavy concentration in the upper Midwest and northeast regions of the country are proportionately lower than the results expected in other quarters.

Mr. Richard L. Bready, Chairman and Chief Executive Officer, said "We are extremely pleased with the strong operating results for the first quarter from our core businesses, and look forward to improving results from Ply Gem as we move into the strong second-quarter selling period."

Nortek is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and indoor environmental control products for the residential, commercial and industrial markets. The Company offers a broad array of products for improving the environments where people live and work. Its products include range hoods and spot ventilation products, heating and air conditioning systems, wood and vinyl windows and doors, vinyl siding products, air quality systems, and specialty electronic, wood and decorating products.


This release contains forward-looking statements relating to future financial results. Actual financial performance may differ as a result of factors over which the Company has no control. Additional information which could affect the company's financial results is included in the Company's Securities and Exchange Commission filings, copies of which are available from Nortek at no charge.

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