Trex Co. Inc. reported a loss of $75.9 million on sales of $329 million for 2007, compared with 2006 profit of $2.3 million on sales of $337 million.
``We are extremely disappointed with 2007 financial results, which were burdened with charges stemming from poor control over manufacturing operations, quality and fixed-asset management,'' said Ronald Kaplan, the Winchester firm's new president and chief executive officer, in a news release.
Kaplan, who joined the company Jan. 7, said he is ``taking decisive action'' to improve that control.
Trex announced the results Feb. 26, just days after eliminating 30 salaried workers in a cost-cutting move designed to save it about $3.5 million in 2008. The downsizing affected the workforce at the company's headquarters and research and development center, and at plants in Fernley, Nev., and Winchester.
Last year, Trex cut about 270 jobs and suspended operations at a Mississippi plant, citing the difficult housing market.