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April 29 , 2021 PATRICK Patrick Industries , Inc. Reports First Quarter 2021 Financial Results First Quarter 2021 Highlights ( all metrics compared to First Quarter 2020 unless otherwise noted ) - Net sales of $ 850.5 million increased 44 % , driven by strong demand across all market sectors - Operating income of $ 68.5 million increased 74 % - Operating margin of 8.1 % increased 140 basis points - Net income of $ 47.5 million increased 124 % - Diluted earnings per share of $ 2.04 increased 124 % - Operating cash flows of $ 50.3 million increased 281 % - Completed acquisition of Sea - Dog Corporation - Subsequent to quarter end , completed acquisition of SeaDek , $ 350 million notes offering due 2029 and credit facility expansion and extension ELKHART , Ind . , April 29 , 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 first quarter ended March 28 , 2021 . Net sales in the first quarter of 2021 increased $ 261.3 million , or 44 % , to $ 850.5 million from $ 589.2 million in the first quarter of 2020. The consolidated net sales increase was due to growth across all market sectors , led by the RV and marine markets . Operating income of $ 68.5 million increased $ 29.2 million , or 74 % , compared to $ 39.3 million in the first quarter of 2020. Operating margin of 8.1 % in the first quarter of 2021 increased 140 basis points compared to 6.7 % in the same period a year ago . Net income of $ 47.5 million increased $ 26.3 million , or 124 % , compared to $ 21.2 million in the first quarter of 2020. Diluted earnings per share of $ 2.04 for the first quarter of 2021 increased $ 1.13 , or 124 % , compared to $ 0.91 for the first quarter of 2020. First quarter 2021 net income and diluted earnings per share reflect an income tax benefit of $ 5.7 million and $ 0.24 , respectively , related to the exercise and vesting of share - based payment awards .