Simpson net incomes increases in Q3

Simpson Manufacturing reported third-quarter net income of $20.0 million, compared with $13.0 million for the third quarter of 2012. 

Net sales increased 13.8% to $195.9 million for the third quarter, compared with $172.1 million for the third quarter of 2012.

The increase in Simpson’s third-quarter 2013 net sales was due to increased sales in all segments, with North America reporting the largest increase. North America sales were affected positively by improved economic conditions, including an increase in estimated annualized housing starts compared with the third quarter of 2012.

Net sales were affected negatively by reduced home center sales and lower selling prices in the United States, Canada and Europe.