Simpson reports sales and earnings decline
Pleasanton, Calif.-based Simpson Manufacturing reported a net income of $22.6 million for the third quarter, a 16 percent decline from $27.1 million in the same quarter last year.
The company also reported a 4.2 percent decline in net sales to $217.2 million for the third quarter of this year, down from $226.7 million in the same quarter last year.
The company’s third quarter ended Sept. 30.
Simpson Manufacturing also said that sales declined throughout most regions of the United States, but the sharpest decline was the southeastern region and California. It also said that sales in Canada and Europe had increased.
Simpson Manufacturing, through its subsidiary companies Simpson Strong-Tie and Simpson Dura-Vent is a manufacturer of fasteners, sheer walls and venting systems.