Simpson sales increase 7% in first quarter
Pleasanton, Calif.-based Simpson Manufacturing's first-quarter net sales increased 7.0% to $132.5 million compared with the same quarter last year.
Net income declined 23.1% to $7.08 million, down from $9.20 million in the same three-month period of 2010.
The company said sales to contractor distributors, dealer distributors, lumber dealers and home centers increased in the quarter, despite economic conditions it described as "challenging." Sales of anchor products and shearwalls also increased over the same period.
In the first quarter of 2011, sales increased throughout most of North America and increased significantly in Europe, the company said. Sales increased in the United States with increases in California, the Midwestern, Southeastern and Northeastern regions as compared with the first quarter of 2010, partly offset by decreases in the Western region excluding California.
The company's subsidiary Simpson Strong-Tie makes connectors and fastening systems, pre-fabricated shearwalls and related products.