Simpson posts gains in Q2
“Improved economic activity” in the United States helped boost Pleasanton, Calif.-based Simpson Manufacturing to gains in sales and net income.
Net sales increased 6% to $230.0 million from $216.7 million. The company had net income of $26.2 million compared to $21.5 million in the year ago quarter.
In North America, net sales increased 8%, due to “increased unit sales volumes in the U.S. on improved economic activity, partly offset by a slight decrease in average sales prices.”
In the Asia/Pacific segment, sales were down 30% as the company closed its sales offices in China, Thailand and Dubai late in the first quarter of 2015.
Net sales to dealer distributors, lumber dealers and contractor distributors increased, primarily due to increased home construction activity, while net sales to home centers decreased.
Simpson Manufacturing, by the numbers:
Net sales
Q216: $229,973,000
Q215: $216,665,000
% change: up 6.1%
Net income
Q216: $26,201,000
Q215: $21,509,000
% change: up 21%
