7/30/2016
NEWS BRIEFS
Simpson Mfg. Fastener Sales Grow

Simpson Mfg. reported sales, including fasteners, increased 6% to $230 million during the second quarter of 2016. Net income rose 22% to $26.2 million. 

Wood construction product net sales, including sales of connectors, truss plates, fastening systems, fasteners and shearwalls, represented 86% of total net sales in Q2.

Sales increased in both North America and Europe.

North America sales gained 8% to $197.3 million “due to increased unit sales volumes in the United States on improved economic activity, partly offset by a slight decrease in average sales prices. Canada’s net sales increased 6%, despite being negatively affected by the Canadian dollar weakening.”

Q2 sales in Europe increased 1% to $30.8 million due to “increased unit sales, partly offset by a decrease in average sales prices.”

Sales in Asia/Pacific fell 30% to $1.9 million “primarily due to the continuing effects of closing of sales offices in China, Thailand and Dubai.” 

R&D expenses increased 9% to $11.5 million.

Six-month sales increased 9% to $429.5 million, with net income rising 34% to $42.5 million.

Net sales in North America during the first half of 2016 increased 11% to $371.7 million due to increased unit sales volumes in the U.S. on improved economic activity.

Six-month sales in Europe gained 2% to $54.5 million, while sales in Asia/Pacific decreased 46% to $3.2 million.