Simpson rakes in a 13% sales bump

Simpson Manufacturing Co. had some good numbers to report for its first quarter, not the least of which included a double-digit sales bump.

The company had net sales of $199.5 million in the three months ended March 31, up 13% from the previous year's $176.5 million. Much of the momentum was owing to increased unit sales volumes in the U.S., though it was offset by a slight decrease in average sales prices.

Regionally, net sales increased 16% in North America, 4% in Europe, and decreased 59% in Asia/Pacific, primarily due to the closing of sales offices in China, Thailand and Dubai.

Additionally, the bulk (86%) of net sales were attributed to wood construction products such as connectors, truss plates, fastening systems, fasteners and shearwalls.

Net income of $16.3 million also represented a major improvement over the previous year's $10.1 million.

And finally, gross profit increased to $92.5 million from $77.5 million.