PLEASANTON, Calif.,
Oct. 24, 2013 /PRNewswire/
-- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD)
today announced its third quarter 2013 results.
Results of Operations for the Three Months Ended September 30, 2013, Compared with the Three
Months Ended September 30,
2012
Overview
Net sales increased 13.8% to $195.9
million for the third quarter of 2013 from $172.1 million for the third quarter of 2012. The
Company had net income of $20.0
million for the third quarter of 2013 compared to
$13.0 million for the third quarter
of 2012. Diluted net income per common share was $0.41 for the third quarter of 2013 compared to
$0.27 per common share for the third
quarter of 2012. The Company continues to invest in its strategic
initiatives, such as an expanded offering of concrete construction
products, particularly specialty chemicals, and wood construction
products, particularly truss plate and software offerings.
Net sales
The increase in the Company's third quarter 2013 net sales was
due to increased sales in all segments, with North America reporting the largest increase
in dollars. North America sales
were affected positively by improved economic conditions, including
an increase in estimated annualized housing starts compared to the
third quarter of 2012. Net sales were affected negatively by
reduced home center sales and lower selling prices in the United States, Canada and Europe.
- Segment net sales:
- North America net sales
increased 14.7% in the third quarter of 2013, compared to the third
quarter of 2012. Net sales in the United
States increased over the same period in 2012, despite the
reduction in home center business and price reductions.
Canada net sales decreased over
the same period in 2012 due to lower sales volumes and lower
selling prices.
- Europe net sales increased
6.3% in the third quarter of 2013 compared to the third quarter of
2012, due to slightly improved economic conditions and the effects
of currency translations, partly offset by price reductions.
- Consolidated net sales channels and product groups:
- Net sales to contractor distributors, dealer distributors and
lumber dealers increased in the third quarter of 2013, compared to
the third quarter of 2012, while net sales to home centers
decreased.
- Net sales to the Company's largest customer decreased 5.1% in
the third quarter of 2013, compared to the third quarter of
2012.
- Wood construction product sales, including connectors, truss
plates, fastening systems, fasteners and shearwalls, represented
84% of total Company sales in the third quarter of 2013, down from
85% in the third quarter of 2012.
- Concrete construction product sales, including adhesives,
chemicals, mechanical anchors, powder actuated tools and
reinforcing fiber materials, represented 16% of total Company sales
in the third quarter of 2013, up from 15% in the third quarter of
2012.
Gross profit
Gross profit increased to $90.2
million in the third quarter of 2013 from $75.7 million in the third quarter of 2012. Gross
profit as a percentage of net sales increased to 46.0% in the third
quarter of 2013 from 44.0% in the third quarter of 2012.
- North America – Gross profit
margin increased slightly to 47.9% in the third quarter of 2013
from 47.5% in the third quarter of 2012, as a result of slightly
lower material costs and labor costs as a percentage of sales,
partly offset by slightly higher factory overhead costs as a
percentage of sales. Concrete construction product sales, which
have a lower gross profit margin than wood construction product
sales, were 13% of North America
sales in the third quarter of each of 2013 and 2012.
- Europe – Gross profit margin
increased to 40.6% in the third quarter of 2013 from 31.3% in the
third quarter of 2012, as a result of decreases in all elements of
costs as a percentage of sales, mostly due to exiting the
heavy-duty mechanical anchor business in 2012, which included
$0.9 million in severance expense in
the third quarter of 2012. Exiting the heavy-duty anchor business
also resulted in the Europe
segment's gross profit margin on concrete construction product
sales increasing to 49% in the third quarter of 2013 from 27% in
the third quarter of 2012.
- Product mix – The gross profit margin differential between wood
construction products and concrete construction products decreased
from 14% in the third quarter of 2012 to 13% in the third quarter
of 2013, primarily due to reduced concrete construction product
costs, including labor, factory overhead and distribution costs,
partly offset by higher material costs.
- Steel prices – Steel prices increased slightly during the third
quarter in the United States. The
Company expects steel prices to continue to increase moderately
during the fourth quarter of 2013 if industry inventories remain
low.
Research and development and engineering expenses
Research and development and engineering expenses increased 3.5%
to $9.2 million in the third quarter
of 2013 from $8.9 million in the
third quarter of 2012, primarily due to increases of $0.4 million in cash profit sharing, $0.3 million in amortization expense of
capitalized software development costs, $0.2
million in personnel costs and $0.1
million in stock-based compensation expense, partly offset
by a decrease of $0.8 million in
professional fees primarily due to hiring the software development
team at the end of 2012 whereas the Company contracted a third
party development company in 2012.
- North America –
- Research and development and engineering expenses increased
$0.3 million, primarily due to
increases of $0.4 million in cash
profit sharing expense, $0.3 million
in amortization expense of capitalized software development costs
and $0.1 million in stock-based
compensation, partly offset by a decrease of $0.7 million in professional fees, including
third party software development fees.
- In the third quarter of 2013, the Company capitalized
$1.6 million in software development
costs, which reduced research and development and engineering
personnel expenses for the quarter as compared to no costs being
capitalized in the third quarter of 2012.
Selling expenses
Selling expenses decreased 1.5% from $20.9 million in the third quarter of 2012 to
$20.6 million in the third quarter of
2013, primarily due to decreases of $0.4
million in personnel costs and $0.4
million in promotional costs, partly offset by increases in
cash profit sharing of $0.4
million.
- North America – Selling
expenses decreased $0.4 million,
primarily due to a decrease of $0.5
million in promotional expense.
General and administrative expenses
General and administrative expenses increased 20.7% to
$28.8 million in the third quarter of
2013 from $23.8 million in the third
quarter of 2012, primarily due to increases of $2.5 million in cash profit sharing, $1.5 million in personnel costs, $0.5 million in stock-based compensation and
$0.5 million in communication and
computer expense, partly offset by a decrease of $0.5 million in amortization expense, which was
due to a change in the provisional measurement of Keymark assets
that resulted in a reduced amount of amortizable intangible assets
and an increase in goodwill.
- North America – General and
administrative expenses increased $3.7
million, primarily due to increases of $1.6 million in cash profit sharing, $0.9 million in personnel costs due to the
addition of administrative and information technology staff and pay
rate increases instituted in January
2013, $0.5 million in
communication and computer expense and $0.2
million in stock-based compensation, partly offset by a
decrease of $0.4 million in
amortization expense due to a reduction in the provisional
measurement of Keymark intangible assets.
- Europe – General and
administrative expenses increased by $1.0
million, primarily due to increases of $0.6 million in personnel costs and $0.3 million in cash profit sharing, partly
offset by an increase of $0.3 million
in losses from foreign currency translations.
- Admin & All Other – General and administrative expenses
increased $0.7 million, primarily due
increases of $0.6 million in cash
profit sharing, $0.3 million in
stock-based compensation and $0.2
million in professional fees.
Sales of assets
In September 2013, the Company
sold its Ireland facility for
$1.0 million, which resulted in a
loss on disposal of $0.7 million.
Income taxes
The effective income tax rate decreased from 41.1% in the third
quarter of 2012 to 35.2% in the third quarter of 2013, due to
reduced operating losses in the Europe and Asia/Pacific segments in the third quarter
2013, for which a valuation allowance had been recorded.
Results of Operations for the Nine Months Ended September 30, 2013, Compared with the Nine Months
Ended September 30, 2012
Overview
Net sales increased 6.5% to $546.0
million in the first nine months of 2013 from $512.6 million in the first nine months of 2012.
The Company had net income of $43.3
million in the first nine months of 2013 compared to
$36.0 million in the first nine
months of 2012. Diluted net income per common share was
$0.89 in the first nine months of
2013 compared to $0.74 for the first
nine months of 2012.
Net sales
The increase in net sales was primarily due to increased sales
in North America, which were
positively affected by improved economic conditions, including an
increase in estimated annualized housing starts compared to the
first nine months of 2012, despite reduced home center sales and
lower selling prices.
- Segment net sales:
- North America net sales were
up 8.6% in the first nine months of 2013, compared to the first
nine months of 2012. Sales in the United
States increased over the same period in 2012, despite
reduced home center business and lower selling prices. Canada net sales decreased slightly over the
same period in 2012 due to lower sales volumes and lower selling
prices.
- Europe net sales decreased
4.6% in the first nine months of 2013, compared to the first nine
months of 2012, primarily due to exiting the heavy-duty mechanical
anchor business, the region's economic conditions, lower sales
volumes and lower selling prices. Based on current information, the
Company expects that the region's current economic conditions will
not change significantly during the fourth quarter of 2013 and
could continue to negatively affect net sales. Effects of foreign
currency translation were not significant.
- Consolidated net sales channels and product groups:
- Net sales to contractor distributors, dealer distributors and
lumber dealers increased in the first nine months of 2013, compared
to the first nine months of 2012, while net sales to home centers
decreased, partly as a result of the loss of Lowes as a customer in
the second quarter of 2012. Lowes accounted for $11.7 million in net sales in the first nine
months of 2012.
- Excluding Lowes, net sales to home centers decreased 4% in the
first nine months of 2013, compared to the same period in 2012,
while net sales to the Company's largest customer decreased
slightly in the first nine months of 2013, compared to the same
period in 2012.
- Wood construction product sales represented 85% of total
Company sales in the first nine months of 2013, down from 86% in
the first nine months of 2012.
- Concrete construction product sales increased as a percentage
of total sales to 15% in the first nine months of 2013, from 14% in
the first nine months of 2012.
Gross profit
Gross profit increased to $244.6
million in the first nine months of 2013 from $228.3 million in the first nine months of 2012.
Gross profit as a percentage of net sales increased slightly to
44.8% in the first nine months of 2013 from 44.5% in the first nine
months of 2012. Based on current information, the Company estimates
that its 2013 full-year gross profit margin will be 43% to 44%.
- North America – Gross profit
margin decreased from 47.5% in the first nine months of 2012 to
46.9% in the first nine months of 2013, as a result of competitive
price pressure, higher factory overhead and higher distribution
costs, as a percentage of sales, partly offset by lower material
and labor costs as a percentage of sales. Concrete construction
product sales, which have a lower gross profit margin than wood
construction product sales, were 13% of North America sales in the first nine months
of each of 2013 and 2012.
- Europe – Gross profit margin
increased to 37.4% in the first nine months of 2013 from 33.8% in
the first nine months of 2012, as a result of decreases in all
elements of costs of sales as a percentage of sales, mostly due to
exiting the heavy-duty mechanical anchor business in 2012, which
included $0.9 million in severance
expense in the third quarter of 2012.
- Product mix – The gross profit margin differential between wood
construction products and concrete construction products decreased
from 15% in the first nine months of 2012 to 12% in the first nine
months of 2013, primarily due to reduced concrete construction
product costs, including material and labor costs and savings from
exiting the heavy-duty mechanical anchor business, slightly offset
by higher distribution costs.
Research and development and engineering expenses
Research and development and engineering expenses decreased 0.5%
from $27.2 million in the first nine
months of 2012 to $27.0 million in
the first nine months of 2013, primarily due to the Company
capitalizing $1.3 million of software
development costs net of amortization expense, which reduced
year-to-date software development expense, mostly offset by
increases of $0.5 million in cash
profit sharing, $0.2 million in
stock-based compensation and $0.2
million in communication and computer expense.
- North America –
- Research and development and engineering expenses increased
slightly, primarily due to increases of $0.5
million in cash profit sharing, $0.2
million in stock-based compensation and $0.2 million in communication and computer
expense, mostly offset by capitalization of $1.3 million of software development costs net of
amortization expense.
- The Company expects that its spending on software development
will continue in the fourth quarter of 2013 at a similar rate as in
the third quarter of 2013. Based on current information, the
Company expects that the portion of software development spending
that it will capitalize in the fourth quarter of 2013 will continue
at a similar rate as in the first nine months of 2013 with
remaining costs expensed as incurred.
- Europe – Research and development and engineering
expenses decreased $0.6 million,
primarily due to exiting the heavy-duty anchor business in 2012,
which had research and development and engineering expenses of
$0.5 million in the first nine months
of 2012.
Selling expenses
Selling expenses increased 3.9% to $63.7
million in the first nine months of 2013 from $61.3 million in the first nine months of 2012,
primarily due to increases of $0.8
million in personnel costs, $0.7
million in stock-based compensation, $0.6 million in cash profit sharing and
commissions and $0.2 million in
promotional costs.
- North America – Selling
expenses increased $2.5 million,
primarily due to increases of $1.0
million in personnel costs (mostly from additional sales
representatives in support of new businesses acquired in 2011 and
2012 and increased annual pay rates), $0.6
million in stock-based compensation, $0.3 million in cash profit sharing and
commissions, $0.2 million in
promotional costs and $0.2 million in
professional fees.
- Europe – Selling expenses
decreased $0.7 million, primarily due
to exiting the heavy-duty anchor business in 2012, which had
selling expenses of $0.8 million in
the first nine months of 2012.
General and administrative expenses
General and administrative expenses increased 8.4% to
$83.7 million in the first nine
months of 2013 from $77.2 million in
the first nine months of 2012, primarily due to increases of
$2.3 million in personnel costs,
$2.2 million in cash profit sharing,
$0.7 million in stock-based
compensation, $0.6 million in
impairment expenses, $0.5 million in
communication and computer expense, $0.5
million in net losses on foreign currency translations, and
$0.4 million in facility expenses.
These changes were partly offset by a $0.9
million decrease in legal and professional fees.
- North America – General and
administrative expenses increased $4.1
million, primarily due to increases of $2.2 million in personnel costs due to the
addition of administrative and information technology staff and pay
rate increases instituted in January
2013, $1.8 million in cash
profit sharing, $0.5 million in
communication and computer expense and $0.3
million in stock-based compensation, partly offset by
decreases of $0.5 million in
impairment costs and $0.5 million in
legal and professional fees.
- Europe – General and
administrative expenses increased $1.7
million, primarily due to a $1.0
million impairment in the first quarter of 2013 associated
with the Company's real estate in Ireland and increases of $0.3 million in stock-based compensation,
$0.2 million in cash profit sharing
and $0.2 million in foreign currency
translation losses.
- Admin & All Other – General and administrative expenses
increased $0.7 million, primarily due
to an increase of $0.2 million in
each of cash profit sharing, personnel costs, due to the addition
of administrative staff and pay rate increases instituted in
January 2013, and stock-based
compensation.
Income taxes
The effective income tax rate decreased from 42.6% in the first
nine months of 2012 to 37.8% in the first nine months of 2013,
primarily due to reduced operating losses in the Europe and Asia/Pacific segments and $2.3 million in non-deductible acquisition costs
recorded in 2012. Based on current information and subject to
future events and circumstances, the Company estimates that its
2013 effective tax rate will be 38% to 40%.
Additional information
At its meeting on October 16,
2013, the Company's Board of Directors declared a cash
dividend of $0.125 per share. The
record date for the dividend will be January
2, 2014, and it will be paid on January 23, 2014. The Board of Directors also
scheduled the Company's 2014 annual meeting of stockholders for
Tuesday, April 22, 2014.
Investors, analysts and other interested parties are invited to
join the Company's conference call on Friday, October 25, 2013, at 6:00 am Pacific Time. To participate, callers may
dial 866-952-1906. The call will be webcast simultaneously as well
as being available for one month through a link on the Company's
website at www.simpsonmfg.com.
This document contains forward-looking statements, based on
numerous assumptions and subject to risks and uncertainties.
Although the Company believes that the forward-looking statements
are reasonable, it does not and cannot give any assurance that its
beliefs and expectations will prove to be correct. Many factors
could significantly affect the Company's operations and cause the
Company's actual results to differ substantially from the Company's
expectations. Those factors include, but are not limited to: (i)
general economic and construction business conditions; (ii)
customer acceptance of the Company's products; (iii) relationships
with key customers; (iv) materials and manufacturing costs; (v) the
financial condition of customers, competitors and suppliers; (vi)
technological developments; (vii) increased competition; (viii)
changes in capital and credit market conditions; (ix) governmental
and business conditions in countries where the Company's products
are manufactured and sold; (x) changes in trade regulations; (xi)
the effect of acquisition activity; (xii) changes in the Company's
plans, strategies, objectives, expectations or intentions; and
(xiii) other risks and uncertainties indicated from time to time in
the Company's filings with the U.S. Securities and Exchange
Commission. Actual results might differ materially from
results suggested by any forward-looking statements in this
document. The Company does not have an obligation to publicly
update any forward-looking statements, whether as a result of the
receipt of new information, the occurrence of future events or
otherwise.
The Company's results
of operations (unaudited) for the three and nine months ended
September 30, 2013 and 2012, were as follows:
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|
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|
|
|
Three
Months
|
|
Nine
Months
|
|
|
|
Ended September
30,
|
|
Ended September
30,
|
(Amounts in
thousands, except per share data)
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
Net sales
|
$195,877
|
|
$172,113
|
|
$546,008
|
|
$512,550
|
|
Cost of
sales
|
105,724
|
|
96,390
|
|
301,461
|
|
284,276
|
|
|
Gross
profit
|
90,153
|
|
75,723
|
|
244,547
|
|
228,274
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development and engineering expenses
|
9,226
|
|
8,916
|
|
27,018
|
|
27,156
|
|
Selling
expenses
|
20,630
|
|
20,941
|
|
63,654
|
|
61,255
|
|
General and
administrative expenses
|
28,781
|
|
23,843
|
|
83,666
|
|
77,174
|
|
Loss (gain) on sale
of assets
|
631
|
|
33
|
|
634
|
|
42
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
30,885
|
|
21,990
|
|
69,575
|
|
62,647
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|
|
|
|
|
|
|
|
|
|
|
Interest expense
(income), net
|
9
|
|
(55)
|
|
(32)
|
|
(177)
|
|
|
Income before
taxes
|
30,876
|
|
22,045
|
|
69,607
|
|
62,824
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income
taxes
|
10,870
|
|
9,069
|
|
26,304
|
|
26,788
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|
|
|
|
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|
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|
|
Net income
|
$
20,006
|
|
$
12,976
|
|
$
43,303
|
|
$
36,036
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|
|
|
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|
|
Earnings per common
share:
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Basic
|
$
0.41
|
|
$
0.27
|
|
$
0.89
|
|
$
0.75
|
|
|
Diluted
|
0.41
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|
0.27
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|
0.89
|
|
0.74
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|
Weighted average
shares outstanding:
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Basic
|
48,377
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|
48,346
|
|
48,482
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|
48,322
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|
Diluted
|
48,551
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|
48,390
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|
48,603
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|
48,385
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Other
data:
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Depreciation and
amortization
|
$
6,853
|
|
$
6,860
|
|
$
21,631
|
|
$
20,673
|
|
|
Pre-tax impairment of
assets
|
-
|
|
-
|
|
1,025
|
|
461
|
|
|
Pre-tax equity-based
compensation expense
|
3,105
|
|
2,064
|
|
9,106
|
|
7,364
|
|
|
|
|
|
|
|
|
|
|
|
Cash dividend
declared per common share
|
$
0.125
|
|
$
0.125
|
|
$
0.250
|
|
$
0.375
|
The Company's
financial position (unaudited) as of September 30, 2013 and 2012,
and December 31, 2012, was as follows:
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|
|
September
30,
|
|
December
31,
|
(Amounts in
thousands)
|
2013
|
|
2012
|
|
2012
|
|
Cash and short-term
investments
|
$
215,764
|
|
$
187,471
|
|
$
175,553
|
|
Trade accounts
receivable, net
|
118,895
|
|
108,425
|
|
82,812
|
|
Inventories
|
187,255
|
|
172,021
|
|
204,124
|
|
Assets held for
sale
|
-
|
|
-
|
|
593
|
|
Other current
assets
|
24,849
|
|
24,192
|
|
34,972
|
|
|
Total current
assets
|
546,763
|
|
492,109
|
|
498,054
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|
|
|
|
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|
Property, plant and
equipment, net
|
209,641
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|
211,132
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|
213,452
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|
Goodwill
|
130,270
|
|
128,812
|
|
121,981
|
|
Other noncurrent
assets
|
47,502
|
|
46,943
|
|
56,835
|
|
|
Total
assets
|
$
934,176
|
|
$
878,996
|
|
$
890,322
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|
|
|
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|
|
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|
Trade accounts
payable
|
$
33,450
|
|
$
24,225
|
|
$
37,117
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|
Notes payable and
lines of credit
|
955
|
|
193
|
|
178
|
|
Other current
liabilities
|
69,508
|
|
63,608
|
|
58,220
|
|
|
Total current
liabilities
|
103,913
|
|
88,026
|
|
95,515
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|
Other long-term
liabilities
|
7,803
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|
4,810
|
|
5,239
|
|
Stockholders'
equity
|
822,460
|
|
786,160
|
|
789,568
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|
|
Total liabilities and
stockholders' equity
|
$
934,176
|
|
$
878,996
|
|
$
890,322
|
|
|
|
|
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|
Additional financial
data of the Company (unaudited) for the three months and nine
months ended September 30, 2013 and 2012, were as
follows:
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|
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|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
|
September
30,
|
%
|
September
30,
|
%
|
(Amounts in
thousands)
|
2013
|
|
2012
|
change
|
2013
|
|
2012
|
change
|
Net Sales by
Reporting Segment
|
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|
North
America
|
$157,278
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|
$137,145
|
15%
|
$444,772
|
|
$409,644
|
9%
|
|
Europe
|
33,887
|
|
31,880
|
6%
|
89,903
|
|
94,236
|
-5%
|
|
Asia/Pacific
|
4,475
|
|
2,851
|
57%
|
10,621
|
|
7,958
|
33%
|
|
Administrative and
all other
|
237
|
|
237
|
N/M
|
712
|
|
712
|
N/M
|
|
|
Total
|
$195,877
|
|
$172,113
|
14%
|
$546,008
|
|
$512,550
|
7%
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales by
Product Group*
|
|
|
|
|
|
|
|
|
|
Wood
Construction
|
$164,094
|
|
$145,987
|
12%
|
$462,761
|
|
$438,576
|
6%
|
|
Concrete
Construction
|
31,506
|
|
25,849
|
22%
|
82,361
|
|
73,079
|
13%
|
|
Other
|
277
|
|
277
|
N/M
|
886
|
|
895
|
N/M
|
|
|
Total
|
$195,877
|
|
$172,113
|
14%
|
$546,008
|
|
$512,550
|
7%
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit
(Loss) by Reporting Segment
|
|
|
|
|
|
|
|
|
|
North
America
|
$
75,369
|
|
$
65,194
|
16%
|
$208,497
|
|
$194,727
|
7%
|
|
Europe
|
13,754
|
|
9,975
|
38%
|
33,639
|
|
31,829
|
6%
|
|
Asia/Pacific
|
863
|
|
495
|
74%
|
2,190
|
|
1,243
|
76%
|
|
Administrative and
all other
|
167
|
|
59
|
N/M
|
221
|
|
475
|
N/M
|
|
|
Total
|
$
90,153
|
|
$
75,723
|
19%
|
$244,547
|
|
$228,274
|
7%
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from
Operations
|
|
|
|
|
|
|
|
|
|
North
America
|
$
28,659
|
|
$
22,102
|
30%
|
$
73,582
|
|
$
66,558
|
11%
|
|
Europe
|
3,682
|
|
1,172
|
214%
|
1,742
|
|
889
|
96%
|
|
Asia/Pacific
|
(649)
|
|
(1,043)
|
38%
|
(1,878)
|
|
(1,860)
|
-1%
|
|
Administrative and
all other
|
(807)
|
|
(241)
|
N/M
|
(3,871)
|
|
(2,940)
|
N/M
|
|
|
Total
|
$
30,885
|
|
$
21,990
|
40%
|
$
69,575
|
|
$
62,647
|
11%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
The Company manages
its business by geographic segment but is presenting sales by
product group as additional information.
|
|
|
N/M
|
Statistic is not
material.
|
Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its
subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and
is a leading manufacturer of wood construction products, including
connectors, truss plates, fastening systems, fasteners and
shearwalls, and concrete construction products, including
adhesives, specialty chemicals, mechanical anchors, powder actuated
tools and reinforcing fiber materials. The Company's common stock
trades on the New York Stock Exchange under the symbol "SSD."
For further information, contact Tom
Fitzmyers at (925) 560-9030.
SOURCE Simpson Manufacturing Co., Inc.