2/3/2010
NEWS BRIEFS
Double-Digit Drop in Simpson Strong-Tie Sales
Simpson Strong-Tie sales, including fasteners and anchor systems, fell 22% during 2009, with sales to distributors and home centers contracting due to continued weakness in the U.S. housing market.
During the final quarter of 2009 Simpson Strong-Tie revenue slipped 7.5% as sales to distributors “decreased significantly.
Overall sales at parent company Simpson Manufacturing Co. dropped 22.7% to $585.1 million, while net income plummeted 77% to $12.2 million. The company recorded full-year sales declines in the U.S., while sales in Europe and Canada grew in the final quarter. ©2010 GlobalFastenerNews.com
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