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ELKHART, Ind., Feb. 11, 2021 /PRNewswire/ Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of component and building products for the recreational vehicle ( RV ), marine, manufactured housing ( MH ), and industrial markets, today reported financial results for the fourth quarter and full year ended December 31, 2020.
Net sales in the fourth quarter of 2020 increased $223.1 million, or 41%, to $772.6 million from $549.5 million in the fourth quarter of 2019. The consolidated net sales increase was due to growth across all market sectors, led by the RV and marine markets.
Operating income of $62.2 million increased $26.2 million, or 73%, compared to $36.0 million in the fourth quarter of 2019. Operating margin of 8.0% in the fourth quarter of 2020 increased 150 basis points compared to 6.5% in the same period a year ago.
Operator
Good morning, ladies and gentlemen, and welcome to the Patrick Industries, Inc. Fourth Quarter 2020 Earnings Conference Call. My name is Jesse, and I ll be your operator for today s call. [Operator Instructions] [Operator Instructions]
And I will now turn the call over to Ms. Julie Ann Kotowski from Investor Relations. Ms. Kotowski, you may begin.
Julie Ann Kotowski
Investor Relations
Good morning, everyone, and welcome to Patrick Industries Fourth Quarter 2020 Conference Call. I am joined on the call today by Andy Nemeth, President and CEO; and Jake Petkovich, CFO. Certain statements made in today s conference call regarding Patrick Industries and its operations may be considered forward-looking statements under the securities laws.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Insights on the Engineered Wood Global Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com
February 1, 2021 GMT
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