Exhibit

Net sales for the third quarter of 2017 increased $103.3 million or 34%, to $407.5 million from $304.2 million in the same quarter of 2016. The increase was attributable to industry growth, acquisitions, geographic expansion efforts, and market share gains. The Company's revenues from the RV industry, which represented 67% of third quarter 2017 sales, increased 29%. According to industry sources, RV industry wholesale unit shipments increased approximately 24% in the third quarter of 2017 compared to the prior year. Revenues from the MH industry, which represented 13% of third quarter 2017 sales, increased 24% compared to the prior year period. The Company estimates that wholesale unit shipments in the MH industry rose approximately 11% from the third quarter of 2016. Revenues from the industrial market, which is tied primarily to residential housing, commercial construction, and institutional furniture spending, increased 21%. The industrial market, which accounted for 12% of the Company’s third quarter 2017 sales, saw new housing starts increase approximately 1% in the quarter. Revenues from the marine industry represented 8% of the Company's third quarter 2017 sales and more than tripled over the third quarter of 2016.

For the third quarter of 2017, Patrick reported operating income of $30.2 million, an increase of 50% or $10.1 million, from the $20.1 million reported in the third quarter of 2016. Net income in the third quarter of 2017 increased 49% to $17.9 million from $12.1 million in the third quarter of 2016, and net income per diluted share increased 37% to $1.08 from $0.79. Third quarter 2017 net income per diluted share reflects the dilutive impact from the increase in weighted average shares outstanding from the 1.35 million share common stock offering completed in March 2017.

Todd Cleveland, Chief Executive Officer, said, "We are pleased with our financial and operating performance in the third quarter, which reflects the continued strength in all of our primary markets, strategic acquisitions, targeted expansion opportunities, and our focus on driving efficiency improvements, talent engagement and retention, and leveraging of our fixed costs. Our team continues to work tirelessly as demand expectations continue to increase, and we remain poised to adapt and execute to serve and support the needs of our customers.”

"We remain highly encouraged by the strong demographic trends and appeal of the convenience, affordability, and recreational allure of the outdoor, leisure family-oriented lifestyle that continues to draw new consumers into the RV market," stated Andy Nemeth, President. "RV retail unit sales increases are aligned with increased wholesale production levels and support balanced retail inventories, and the positive momentum coming out of the recent RV manufacturers' annual open houses in September points towards continued growth. The marine powerboat retail market experienced gains over the prior year with unit sales up an estimated 3% in the first nine months of 2017, and the manufactured housing and industrial markets continue to be bolstered by low interest rates, improving consumer credit, and a strengthening economy and jobs environment. Additionally, the increasing attractiveness of the single-family manufactured housing option and the strength of multi-family urban living support these two building products-based markets."

increased approximately 17% in the first nine months of 2017 compared to the prior year. Additionally, revenues from the MH industry, which represented 13% of the Company's nine months 2017 sales, rose 29% compared to the prior year as wholesale unit shipments in this industry, as estimated by the Company, increased approximately 15%. Revenues from the industrial market increased 23% and benefited primarily from acquisitions and market share gains, particularly related to the residential housing market. The industrial market, which accounted for 12% of the Company's nine months 2017 sales, saw new housing starts increase by approximately 3% for the first nine months of 2017 compared to the prior year. The Company's revenues from the marine industry represented 6% of its nine months 2017 sales and more than tripled year-over-year.

The Company's nine months 2016 net income and net income per diluted share were retroactively increased by $1.3 million and $0.08, respectively, from the amounts previously reported, as a result of the adoption of the new accounting standard for employee share-based payments in the fourth quarter of 2016. For the first nine months of 2017, net income and net income per diluted share were increased by $4.6 million and $0.26, respectively, as a result of adopting this standard. Nine months 2017 net income per diluted share reflects the dilutive impact from the increase in weighted average shares outstanding from the previously mentioned common stock offering.

The Company invested approximately $110.5 million, in the aggregate, for acquisitions and capital expenditures in the first nine months of 2017. Total debt, net of cash on hand, decreased $12.6 million to $253.5 million at September 24, 2017, from $266.1 million at December 31, 2016, reflecting the net proceeds of approximately $93.6 million from the Company's common stock offering in March 2017, cash flows from operations, and the investments in acquisitions and capital expenditures.

"As we look ahead to the remainder of 2017, and into 2018 and beyond, we believe that the strength of our servant leadership-based sales, operational and financial foundation, and customer first performance-oriented culture, when combined with the exceptional talent and passion of our more than 6,500 team members, will continue to position us to execute on our strategic plan to deliver strong growth on both the top and bottom line, drive shareholder value, and exceed our customers’ expectations," Mr. Cleveland further stated.

Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, marine, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast through locations in 19 states. Patrick’s major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile moldings, slide-out trim and fascia, cabinet doors and components, hardwood furniture, fiberglass bath fixtures and tile systems, thermoformed shower surrounds, fiberglass and plastic helm systems and component products, wiring and wire harnesses, electrical systems components including instrument and dash panels, softwoods lumber, interior passage doors, RV painting, slotwall panels and components, aluminum fuel tanks, and CNC molds and composite parts and other products. The Company also distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, cement siding, raw and processed lumber, FRP products, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products.

This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: the impact of any economic downturns especially in the residential housing market, a decline in consumer confidence levels, pricing pressures due to competition, costs and availability of raw materials, the imposition of restrictions and taxes on imports of raw materials and components used in our products, information technology performance and security, the availability of commercial credit, the availability of retail and wholesale financing for residential and manufactured homes, the availability and costs of labor, inventory levels of retailers and manufacturers, the financial condition of our customers, retention and concentration of significant customers, the ability to generate cash flow or obtain financing to fund growth, future growth rates in the Company's core businesses, the seasonality and cyclicality in the industries to which our products are sold, realization and impact of efficiency improvements and cost reductions, the successful integration of acquisitions and other growth initiatives, increases in interest rates and oil and gasoline prices, adverse weather conditions impacting retail sales, our ability to remain in compliance with our credit agreement covenants, and general economic, market and political conditions. In addition, national and regional economic conditions may affect the retail sale of recreational vehicles and residential and manufactured housing. The Company does not undertake to update forward-looking statements, except as required by law. Further information regarding these and other risks, uncertainties and factors is contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2016, and in the Company's Form 10-Qs for subsequent quarterly periods, which are filed with the Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov.



PATRICK INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)


	Third Quarter Ended				Nine Months Ended
(thousands except per share data)	Sep. 24, 2017		Sep. 25, 2016		Sep. 24, 2017		Sep. 25, 2016

NET SALES	$	407,511	$	304,151	$	1,160,083	$	897,951
Cost of goods sold	338,328		255,299		961,851		748,463
GROSS PROFIT	69,183		48,852		198,232		149,488

Operating Expenses:
Warehouse and delivery	11,016		9,165		32,442		26,149
Selling, general and administrative	22,756		15,883		63,755		44,921
Amortization of intangible assets	5,237		3,687		14,239		9,680
Total operating expenses	39,009		28,735		110,436		80,750

OPERATING INCOME	30,174		20,117		87,796		68,738
Interest expense, net	2,135		1,917		6,159		5,198
Income before income taxes	28,039		18,200		81,637		63,540
Income taxes	10,094		6,127		24,965		21,523
NET INCOME	$	17,945	$	12,073	$	56,672	$	42,017

BASIC NET INCOME PER COMMON SHARE	$	1.09	$	0.80	$	3.53	$	2.80
DILUTED NET INCOME PER COMMON SHARE	$	1.08	$	0.79	$	3.47	$	2.76

Weighted average shares outstanding - Basic	16,442		15,048		16,044		15,002
Weighted average shares outstanding - Diluted	16,688		15,308		16,317		15,246



PATRICK INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)


	As of
(thousands)	Sep. 24, 2017		Dec. 31, 2016
ASSETS
Current Assets
Cash and cash equivalents	$	6,371	$	6,449
Trade receivables, net	104,574		38,455
Inventories	149,876		120,019
Prepaid expenses and other	10,503		7,846
Total current assets	271,324		172,769
Property, plant and equipment, net	99,490		85,483
Goodwill and other intangible assets, net	352,644		274,432
Deferred financing costs, net	2,311		1,728
Other non-current assets	492		538
TOTAL ASSETS	$	726,261	$	534,950

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Current maturities of long-term debt	$	15,766	$	15,766
Accounts payable	71,885		46,752
Accrued liabilities	33,928		23,575
Total current liabilities	121,579		86,093
Long-term debt, less current maturities, net	244,073		256,811
Deferred tax liabilities, net	13,153		4,988
Deferred compensation and other	6,680		1,610
TOTAL LIABILITIES	385,485		349,502

SHAREHOLDERS’ EQUITY
Common stock	162,372		63,716
Additional paid-in-capital	8,243		8,243
Accumulated other comprehensive income	27		27
Retained earnings	170,134		113,462
TOTAL SHAREHOLDERS’ EQUITY	340,776		185,448
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	726,261	$	534,950