Simpson Mfg. reported sales, including fasteners, increased 8.5% to $262.5 million in the fourth quarter of 2019.

Q4 sales in North America rose 10.8% to $204.7 million due to “increased sales volume and higher average product prices.” Sales in Europe fell 4.1% to $34.9 million.

Q4 gross profit gained 12.1% to $110.1 million, while gross margin improved to 41.9%. Consolidated operating margin increased to 13.9%, while net income more than doubled to $28.1 million during the quarter.

During 2019, consolidated net sales increased 5.4% to $1.14 billion. Sales in North America rose 6.8% to $972.8 million “primarily due to increases in both sales volumes and average unit prices.” Sales in Europe fell 2.4% to $155.1 million, hurt by some European currencies weakening against the U.S. dollar.

Full-year gross profit gained 2.5% to $492.1 million, while gross margin decreased to 43.3% from 44.5%. Operating margin decreased slightly to 15.9% during the period.

Full-year net income increased 5.8% to $134 million, while capital expenditures rose 11.6% to $32.7 million. Web: SimpsonMfg.com