Gibraltar Industries (ROCK) 8-K Gibraltar Reports Improved Second-quarter Sales and Earnings

                                           For Immediate Release

                                                                August 3, 2005

GIBRALTAR REPORTS IMPROVED SECOND-QUARTER SALES AND EARNINGS

Sales of $288 Million Grew 16%, Net Income from Continuing Operations was $15.9 Million

            BUFFALO, NEW YORK (August 3, 2005) - Gibraltar Industries, Inc. (NASDAQ: ROCK) today reported improved sales and earnings for the three and six months ended June 30, 2005.

            Sales in the second quarter of 2005 were $288 million, an increase of approximately 16 percent compared to $249 million in the second quarter of 2004. Sales for the first six months of 2005 were $562 million, up by approximately 24 percent compared to $454 million in the first half of 2004.

            Net income from continuing operations in the second quarter of 2005 was $15.9 million, compared to $15.3 million in the second quarter of 2004. During the first half of 2005, net income from continuing operations was $26.5 million, an increase of approximately eight percent compared to $24.6 million in the first six months of 2004.

            Earnings per share from continuing operations in the second quarter of 2005 were $.53, compared to $.51 in the second quarter of 2004 on slightly higher outstanding shares in the current period. During the first half of 2005, earnings per share from continuing operations were $.89, compared to $.83 in the first half of 2004.

            Inventories were reduced as scheduled by $31 million, providing positive cash flow which, combined with other positive operating cash flows, was used to reduce debt by $45 million during the quarter.

            "As a result of the volatility and timing of steel pricing issues occurring most notably during the second quarter, which are only recently starting to abate, the third quarter will see gross margin pressure" said Brian J. Lipke, Gibraltar's Chairman and Chief Executive Officer.

            "Since the end of the second quarter, steel prices have begun to stabilize, which should allow for the inventory flow through issue to be corrected with margins beginning to stabilize and move towards normal levels as the third quarter winds down.  As the balance of the year unfolds, we expect this trend to continue," said Mr. Lipke.

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Gibraltar's Reports Record Quarterly Sales, Net Income, and Earnings Per Share
Page Two

            Taking into consideration the third quarter resolution of the inventory flow through situation, and barring a significant change in business conditions, Gibraltar expects its third-quarter earnings per share from continuing operations will be in the range of $.40 to $.45, compared to $.55 in the third quarter of 2004.

            "We are focused on continuous improvements in our growth and profitability.  Longer term, improving our returns on invested capital and improving our cash flow remain priorities," said Mr. Lipke.

            As a result of the sale of the Company's Milcor subsidiary on January 27, 2005, the results of operations for Milcor have been reclassified as discontinued operations in the Company's income statements for all periods.

        Gibraltar Industries is a leading manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets. The Company serves a large number of customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America. It has approximately 3,500 employees and operates 74 facilities in 26 states, Canada, and Mexico.

            Information contained in this release, other than historical information, should be considered forward-looking, and may be subject to a number of risk factors, including: general economic conditions; the impact of the availability and the effects of changing raw material prices on the Company's results of operations; the ability to pass through cost increases to customers; changing demand for the Company's products and services; risks associated with the integration of acquisitions; and changes in interest or tax rates. 

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Gibraltar will review its second-quarter results and discuss its outlook for the third quarter during its quarterly conference call, which will be held at 2 p.m. Eastern Time on August 4. Details of the call can be found on Gibraltar's Web site, at www.gibraltar1.com.

CONTACT: Kenneth P. Houseknecht, Vice President of Communications and Investor Relations, at 716/826-6500, ext. 3229, or khouseknecht@gibraltar1.com.

Gibraltar's news releases, along with comprehensive information about the Company, are available on the Internet, at www.gibraltar1.com.

GIBRALTAR INDUSTRIES, INC. Financial Highlights (in thousands, except per share data)
	Three Months Ended
		June 30, 2005		June 30, 2004
Net Sales	$	288,388	$	249,092
Net Income from Continuing Operations	$	15,915	$	15,294
Net Income Per Share from Continuing     Operations -Basic	$	.54	$	.52
Weighted Average Shares Outstanding-Basic		29,606		29,308
Net Income Per Share from Continuing     Operations - Diluted	$	.53	$	.51
Weighted Average Shares Outstanding-Diluted		29,762		29,554

	Six Months Ended
		June 30, 2005		June 30, 2004
Net Sales	$	561,969	$	453,699
Net Income from Continuing Operations	$	26,537	$	24,553
Net Income Per Share from Continuing    Operations -Basic	$	.90	$	.84
Weighted Average Shares Outstanding-Basic		29,588		29,227
Net Income Per Share from Continuing    Operations -Diluted	$	.89	$	.83
Weighted Average Shares Outstanding-Diluted		29,769		29,462

GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands)
		June 30, 2005		December 31, 2004
Assets
Current assets:
Cash and cash equivalents	$	7,025	$	10,892
Accounts receivable, net		171,940		146,021
Inventories		199,061		207,215
Other current assets		11,825		15,479
Total current assets		389,851		379,607
Property, plant and equipment, net		254,643		269,019
Goodwill		269,881		285,927
Investments in partnerships		7,753		8,211
Other assets		14,148		14,937
	$	936,276	$	957,701
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	65,001	$	70,775
Accrued expenses		51,305		51,885
Current maturities of long-term debt		8,860		8,859
Current maturities of related party debt		5,833		5,833
Total current liabilities		130,999		137,352
Long-term debt		257,915		289,514
Long-term related party debt		-		5,833
Deferred income taxes		64,412		66,485
Other non-current liabilities		5,065		4,774
Shareholders' equity:
Preferred stock, $.01 par value; authorized: 10,000,000 shares; none outstanding		-		-
Common stock, $.01 par value; authorized 50,000,000 shares; issued 29,707,186 and 29,665,780 shares in 2005 and  2004, respectively		297		297
Additional paid-in capital		216,488		209,765
Retained earnings		265,834		242,585
Unearned compensation		(6,313)		(572)
Accumulated other comprehensive loss		1,579		1,668
		477,885		453,743
Less: cost of 40,500 common shares held in treasury in 2005 and 2004		-		-
Total shareholders' equity		477,885		453,743
	$	936,276	$	957,701
See accompanying notes to condensed consolidated financial statements

GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) (in thousands)
		Three Months Ended June 30,							Six Months Ended June 30,
				2005			2004			2005			2004
Net sales	$		288,388			$249,092		$	561,969		$	453,699
Cost of sales			231,922			192,302			455,371			355,496
Gross profit			56,466			56,790			106,598			98,203
Selling, general and administrative expense			27,188			9,719			56,424			53,318
Income from operations			29,278			27,071			50,174			44,885
Other (income) expense:
Equity in partnerships' loss (income), and other  income			93			(1,186)			(351)			(1,726)
Interest expense			3,816			2,977			7,744			6,027
Total other expense			3,909			1,791			7,393			4,301
Income before taxes			25,369			25,280			42,781			40,584
Provision for income taxes			9,454			9,986			16,244			16,031
Net income from continuing operations			15,915			15,294			26,537			24,553
Discontinued operations:      (Loss) income from discontinued operations         Income tax (benefit) expense         Net income (loss) from discontinued operations	$		(728) (284) (444)			$        248   98 150			$    (524) (204)  (320)			$               390 154 236
Net income			15,471			15,444			26,217			24,789
Net income per share - Basic:        Income from continuing operations        (Loss) income from discontinued operations	$		.54 (.01)			$         .52 .01		$	.90 (.01)		$	.84 .01
Net income	$		.53			$         .53		$	.89		$	.85
Weighted average shares outstanding - Basic			29,606			$  29,308			29,588			29,227
Net income per share - Diluted:       Income from continuing operations       (Loss) income from discontinued operations	$		.53 (.01)		$	.51 .01		$	.89 (.01)		$	.83 .01
Net income	$		.52		$	.52		$	.88		$	.84
Weighted average shares outstanding - Diluted			29,762			29,554			29,769			29,462

GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands)
Six Months Ended         June 30,
			2005		2004
Cash flows from operating activities
Net income	$		26,217	$	24,789
Net (loss) income from discontinued operations			(320)		236
Net income from continuing operations			26,537		24,553
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			13,286		11,653
Provision for deferred income taxes		(786)			2,245
Equity in partnerships' income		(294)			(1,726)
Distributions from partnerships		748			846
Unearned compensation, net of restricted stock forfeitures		327			69
Other noncash adjustments		202			133
Increase (decrease) in cash resulting from changes
in (net of acquisitions and disposition):
Accounts receivable		(32,872)			(46,094)
Inventories		1,862			(24,929)
Other current assets		1,858			561
Accounts payable and accrued expenses		(3,918)			37,235
Other assets		(3,306)			(997)
Net cash provided by continuing operations		3,644			3,549
Net cash used in discontinued operations		(486)			(1,832)
Net cash provided by operating activities		3,158			1,717
Cash flows from investing activities
Acquisitions, net of cash acquired		-			(48,600)
Purchases of property, plant and equipment		(10,385)			(9,783)
Net proceeds from sale of property and equipment		249			230
Net proceeds from sale of business		42,594			-
Net cash provided by (used in) investing activities for continuing operations		32,458			(58,153)
Net cash provided by (used in) investing activities for discontinued operations		397			(477)
Net cash provided by (used in) investing activities		32,855			(58,630)
Cash flows from financing activities
Long-term debt reduction		(47,430)			(25,506)
Proceeds from long-term debt		10,000			57,680
Payment of dividends		(2,970)			(1,751)
Net proceeds from issuance of common stock		520			7,768
Net cash (used in) provided by financing activities		(39,880)			38,191
Net decrease in cash and cash equivalents		(3,867)			(18,722)
Cash and cash equivalents at beginning of year		10,892			29,019
Cash and cash equivalents at end of period	$	7,025		$	10,297
See accompanying notes to condensed consolidated financial statements

GIBRALTAR INDUSTRIES, INC.      Segment Information      (unaudited)       (in thousands)
	Three Months Ended June 30,
											Increase (Decrease)
			2005				2004				$			%
			(unaudited)				(unaudited)
Net Sales
Processed metal products	$		118,188		$		94,320		$		23,868			25.3%
Building products			142,654				128,341				14,313			11.2%
Thermal processing			27,546				26,431				1,115			4.2%
Total Sales			288,388				249,092				39,296			15.8%
Income from Continuing Operations
Processed metal products	$		8,444		$		11,004		$		(2,560)		$	(23.3%)
Building products			22,197				19,734				2,463			12.5%
Thermal processing			4,200				4,274				(74)			(2%)
Corporate			(5,563)				(7,941)				2,378			29.9%
Total Operating Income			29,278				27,071				2,207			8.2%
Operating Margin
Processed metal products			7.1%				11.7%
Building products			15.6%				15.4%
Thermal processing			15.2%				16.2%
		Six Months Ended June 30,
												Increase (Decrease)
				2005				2004				$			%
				(unaudited)				(unaudited)
Net Sales
Processed metal products		$		245,800		$		171,486		$		74,314			43.3%
Building products				261,826				230,276				31,550			13.7%
Thermal processing				54,343				51,937				2,406			4.6%
Total Sales				561,969				453,699				108,270			23.9%
Income from Continuing Operations
Processed metal products		$		22,467		$		19,031		$		3,436			18.1%
Building products				32,701				30,129				2,572			8.5%
Thermal processing				7,605				8,222				(617)			(7.5%)
Corporate				(12,599)				(12,497)				(102)			0%
Total Operating Income				50,174				44,885				5,289			11.8%
Operating Margin				9.1%				11.1%
Processed metal products				12.5%				13.1%
Building products				14.0%				15.8%
Thermal processing