Sales and earnings decline for Simpson
Pleasanton, Calif.-based Simpson Manufacturing Co. reported net sales for the first quarter ended March 31 decreased 2.6% to $154.5 million.
The company had net income of $4.8 million for the first quarter of 2013 compared with net income of $7.2 million for the first quarter of 2012.
The company said it continues to invest in its strategic initiatives, such as an expanded offering of concrete and reinforcing products and systems, particularly specialty chemicals, and in its truss plate and software offerings.
The decrease in the company's first-quarter 2013 net sales was primarily due to lower sales in Europe, which were affected by difficult economic conditions. In addition, net sales were also affected negatively by reduced home center sales, lower selling prices and inclement weather in some regions of the United States, Canada and Europe, which possibly delayed construction projects during the quarter.
North America net sales were flat in the first quarter of 2013, compared with the first quarter of 2012, with inclement weather delaying construction projects in regions of the United States and Canada.