Simpson Manufacturing posts gains

Home construction activity helped Pleasanton, California-based Simpson Manufacturing report net sales of $184.8 million in the fourth quarter, up 8% from the same quarter last year.

Net income increased to $17.4 million, up from $14.7 million.

In North America, sales increased 9%, due mostly to increased unit sales volumes in the United States. The company said net sales to dealer distributors, contractor distributors and lumber dealers increased, primarily due to increased home construction activity, while net sales to home centers decreased.

For the full year, net sales increased 8% to $860.7 million in 2016, up from $794.1 million in 2015. The company’s net income increased more than 30% to $89.7 million, up from $67.9 million.

In the most recent quarter, wood construction product net sales, including sales of connectors, truss plates, fastening systems, fasteners and shearwalls, represented 85% and 84% of the Company's total net sales in the fourth quarters of 2016 and 2015, respectively.

Concrete construction product sales, including sales of adhesives, chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials, represented 15% and 16% of the company's net sales in the fourth quarters of 2016 and 2015, respectively.