7/26/2012 1:06:00 AM
NEWS BRIEFS
Valmont Industries Reports Solid Fastener Segment Results
Valmont Industries reported industrial fastener segment sales gained 3.6% to $87.2 million in the second quarter of 2012, while operating income improved 7.7% to $12.26 million.
Coatings segment sales increased 0.8% to $84.8 million, boosted by broad demand in North America. Coating segment operating income climbed 30% to $19.5 million (23% of segments sales), resulting from lower costs and increase volume.
Overall Q2 sales increased 14.8% to 31% to $767.3 million, with operating income rising 42% to $97.4 million and net income gaining 31% to $60 million.
“All segments had positive sales comparisons for the quarter,” said CEO Mogens C. Bay.
Fastener segment sales during the first six months of 2012 rose 9.5% to $173.26 million, with operating income increasing 16.6% to $23.67 million.
Coatings segment sales gained 6.4% to $167.7 million in the first half, while operating income swelled 42% to $36.1 million.
Overall Valmont sales increased 20% to $1.48 billion, with net income rising 57% to $112.3 million. ©2012 GlobalFastenerNews.com
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