Fastener maker Simpson Manufacturing Co. reported net sales of $130.7 million for its fourth fiscal quarter of 2011, a 9.3% increase over sales of $119.6 million for the same quarter of 2010. The Pleasanton, Calif.-based company had income, net of tax, of $4.9 million for the fourth quarter of 2011 compared to a loss, net of tax, of $4.5 million for the fourth quarter of 2010.
In the fourth quarter of 2011, sales increased throughout North America and most of Europe. Sales increased in all regions of the United States, with above-average increases in California and the western regions, as compared to the fourth quarter of 2010. Sales in Asia and Australia, although relatively small, increased as compared to the fourth quarter of 2010. Sales to contractor distributors, dealer distributors, lumber dealers and home centers increased. The sales increase was broad-based across most of the company's major product lines as compared to the fourth quarter of 2010, although sales of shearwalls decreased.
For 2011, net sales increased 8.6% to $603.4 million compared to net sales of $555.5 million for 2010. The company reported income, net of tax, of $50.9 million for 2011 compared to income, net of tax, of $44.8 million for 2010.
In December 2011, Simpson purchased certain assets and liabilities of Fox Industries, Inc., for $8.7 million. Fox Industries is a manufacturer of construction products and systems to repair, protect and strengthen concrete. The acquisition will help the company to expand its product offerings in the commercial, industrial and infrastructure construction markets. Also in December 2011, the company purchased the assets of Automatic Stamping, LLC for $42.5 million. Automatic Stamping is a manufacturer of a line of truss plates. In January 2012, the Company purchased 100% of the equity of S&P Clever Reinforcement Company AG and S&P Reinforcement International AG for $56.5 million. S&P Clever manufactures and sells engineered materials for repair, strengthening and restoration of concrete, asphalt and masonry construction and has operations throughout Europe.