Simpson Manufacturing reported sales, including fasteners, increased 8% to $200.2 million in the fourth quarter of 2016, with net income up 18% to $17.4 million. Gross profit increased 15% to $95 million. Gross profit as a percentage of net sales increased to 47% from 45%.

Sales increased in all segments during Q4.

Sales in North America rose 9% to $172.8 million mostly due to increased unit sales volumes in the U.S. on improved economic activity as well as an increase in average net sales unit prices. Segment gross profit improved to 49% from 47% in Q4.

Sales in Europe gained 1% mostly due to increased unit sales volumes as average net sales unit prices were relatively flat during the quarter. Europe’s net sales were negatively affected by approximately $1.1 million in foreign currency translations, primarily due to the weakening of the British pound against the U.S. dollar. Segment gross profit margin increased to 37% from 34%.

Full-year sales at Simpson Mfg. increased 8% to $860.7 million, while net income rising 32% to $89.7 million. Gross profit rose 15% to $412.5 million, with gross profit as a percentage of net sales increased to 48% from 45%.

Sales in North America grew 10% to $742 million in 2016, mostly due to increased unit sales volumes on improved economic activity as well as a slight increase in average net sales unit prices.

Full-year sales in Europe improved 3% to $111.3 million, mostly due to increased unit sales volumes, partly offset by a decrease in average net sales unit prices.

Sales in Asia decreased 21% to $7.4 million, primarily due to the effects of the closing of sales offices in China, Thailand and Dubai late in the first quarter of 2015, which accounted for an approximately $4.1 million decrease in consolidated net sales.

Research and development and engineering expense was $46.2 million in both 2016 and 2015. Web: simpsonmfg.com