10/29/2013 1:38:00 PM
NEWS BRIEFS
Simpson Mfg. Reports Double-Digit Sales Growth
Simpson Manufacturing reported net sales, including fasteners, increased 13.8% to $195.9 million for the third quarter of 2013. Net income jumped 54% to $20 million.
Q3 North America sales increased 14.7% to $157.3 million, whiles sales in Europe gained 6.3% to $33.9 million and Asian sales rose 57% to $4.5 million.
Net sales to contractor distributors, dealer distributers and lumber dealers increased in Q3, while gross profit improved to $90.2 million.
Simpson said U.S. steel prices increased slightly during the third quarter. The company expects steel prices to continue to increase moderately during the remainder of the year.
Nine-month sales increased 6.5% to $546 million, primarily due to increased sales in North America. Net income rose 20% to $43.3 million.
North America net sales increased 8.6% to $444.8 million during the opening nine months of 2013, with sales Europe decreasing 4.6% to $89.9 million, primarily due to exiting the heavy-duty mechanical anchor business, the region’s economic conditions, lower sales volumes and lower selling prices. Sales in Asia grew 33% to $10.6 million. ©2013 GlobalFastenerNews.com
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