Simpson Manufacturing reported net income of $13.0 million for the third quarter of 2012 compared with net income of $19.4 million for the third quarter of 2011, which included a $4.5 million gain on the sale of the Keymark equity investment.
Net sales increased 6.0% to $172.1 million compared with net sales of $162.4 million for the year-ago period. The increase in sales was primarily due to $8.8 million in sales from businesses acquired since December 2011 with the remainder primarily due to increased volume.
Sales increased in North America, due in part to recent acquisitions. Sales in Europe were flat, primarily due to sales from the recent European acquisition offset by decreases throughout the rest of the Company’s European operations.
In the first nine months of 2012, the company reported net income of $36.0 million compared with net income of $46.0 million for the first nine months of 2011. Net sales for the nine-month period increased 8.4% to $512.5 million compared with net sales of $472.7 million for the first nine months of 2011 due in part to recent acquisitions.