Simpson Manufacturing Ties On a Strong Quarter
Oct 24th 2013 10:22PM
Updated Oct 24th 2013 10:24PM
Building fasteners maker Simpson Manufacturing reported strong earnings after the bell today, beating analyst estimates for its third quarter by $0.08 per share. Simpson posted earnings per share of $0.41, which was better than analyst expectations of $0.33 per share in the period.
Revenue of $195.9 million, which was up almost 14% year over year, also came in ahead of Wall Street's predictions for revenue of $188.7 million as the North American market continued to show strong results, with sales widening nearly 15%, though lower selling prices offset some of the gains. Europe was up only 6% from the year-ago period.
Simpson continues to expect benefits to accrue from its ongoing investments in strategic initiatives, which include an expanded offering of concrete construction products, particularly specialty chemicals, and wood construction products such as truss plate and software offerings.
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