Simpson posts growth of 4.9% in Q1

Simpson Manufacturing Co. announced first-quarter sales growth of 4.9% for the three months ended March 31, largely buoyed by progress in its North America segment but tempered by decreases in Europe and Asia/Pacific.

Net sales for the company came in at $176.5 million, up from $168.3 million during the same period last year.

Simpson saw sales boosts in its transactions with contractor distributors, dealer distributors, lumber dealers and home centers, which it attributed to increased home construction activity.

The majority (86%) of its sales were comprised of wood construction products, with concrete construction products making up the other 14%.

Net income of $10.1 million didn't come in quite as strong as the previous year's income of $12.1 million, however.

Diluted net income per common share was also slightly behind at $0.20, compared to $0.25 last year.