Simpson pulls ahead in North America
Simpson Manufacturing Co. pulled ahead in the third quarter, but a well-performing North American segment offset declines in Europe.
Net sales for the three months ended Sept. 30 increased 3.3% to $216.1 million, compared with $209.3 million in the third quarter of 2014.
The company also pulled in net income of $21.6 million, up from $20.6 million the year before.
Net sales jumped as much as 7.9% in North America, however, which Simpson attributed to increased unit sales volumes in the United States. Canadian net sales decreased mostly due to the impact of foreign currency translations.
In Europe, net sales decreased 14.1% (primarily due to foreign currency translations as well). Sales were also affected by a slight decrease in average sales prices.