Sales gains for Simpson
As home construction activity boosted sales to lumber dealers, dealer distributors and home centers, Pleasanton, California-based Simpson Manufacturing, the construction fastener giant, reported solid sales gains in the first quarter.
The company reported net sales increased 10% to $219.9 million from $199.5 million. Recent acquisitions accounted for $12.6 million of the increase in net sales. Net income was $23.1 million compared to $16.3 million in last year’s first quarter.
In North America, met sales increased 5%, mostly due to increased average net sales unit prices in the United States as well as an increase in sales volumes.
The company designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products.
Simpson Manufacturing also said it expects market prices for steel to hold steady in the second quarter.
