Simpson's North American Sales Increase 8.8% in 2Q
Originally published by: Hardware & Building Supply Dealer — July 23, 2015
The following article was produced and published by the source linked to above, who is solely responsible for its content. SBC Magazine is publishing this story to raise awareness of information publicly available online and does not verify the accuracy of the author’s claims. As a consequence, SBC cannot vouch for the validity of any facts, claims or opinions made in the article.
Simpson Manufacturing Co. had steady -- though modest -- gains to report in the second quarter, featuring a net sales increase of 4.2%.
The company pulled in net sales of $216.7 million in the second quarter ended June 30, up from $207.9 million in the year-ago period.
Meanwhile, net income of $21.5 million represented a small improvement over last year's $20.5 million.
Geographically, performance varied: a net sales increase of 8.8% in North America was offset by a 12.6% decrease in Europe, mostly due to the effects of foreign currency translations.
Additionally, gross profit margin decreased in North America and Europe to 47.3% from 47.9% in the former, and to 39.1% from 40.5% in the latter.