Simpson posts sales and earnings gains
Pleasanton, Calif.-based Simpson Manufacturing Co. reported second-quarter net sales increased 7.4% to $177.8 million, up from $165.6 million in the same quarter last year.
Net income was $19.5 million, up from $6.7 million in the same quarter last year.
Sales increased in the United States, with increases in California and the western, midwestern and southeastern regions, as compared with the second quarter of 2010. Sales in the northeastern region decreased slightly.
Sales to contractor distributors, lumber dealers and home centers increased, although economic conditions remain challenging, and sales to dealer distributors were flat. The sales increase was broad-based across most of the company's major product lines as compared with the second quarter of 2010. Sales of anchor products increased over the same period in the prior year, while sales of shearwalls decreased.