Simpson net incomes increases in Q3
Simpson Manufacturing reported third-quarter net income of $20.0 million, compared with $13.0 million for the third quarter of 2012.
Net sales increased 13.8% to $195.9 million for the third quarter, compared with $172.1 million for the third quarter of 2012.
The increase in Simpson’s third-quarter 2013 net sales was due to increased sales in all segments, with North America reporting the largest increase. North America sales were affected positively by improved economic conditions, including an increase in estimated annualized housing starts compared with 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.
Sherwin-Williams grows Q3 net income
The Sherwin-Williams Company increased net income 12%, to $262.97 million from $234.95 million, during the third quarter of fiscal 2013.
Net sales grew 9.4% to $2.85 billion from $2.6 billion.
Sherwin-Williams cited higher paint sales volumes in its Paint Stores Group and acquisitions as helping to drive net sales growth. In September 2013, the retailer completed the acquisition of the Comex U.S. and Canada businesses, which added an additional 306 stores, and during the quarter purchased 1.5 million shares of its common stock through open market purchases.
Thomas Morgan named Leviton’s director of product management
Leviton has hired Thomas Morgan as the director of product management for the Security & Automation business unit. In his new role, Morgan will be responsible for helping to guide the future of Leviton’s smart, integrated products, including the Vizia RF+ Z-Wave product family.
“Mr. Morgan is an industry icon with a vast familiarity of the automation industry, product interoperability and integrator education, offering Leviton a unique perspective,” said Jay McLellan, president, Leviton Security & Automation. “We are excited to have him join the growing team and look forward to the continual innovation of the Security & Automation solutions offerings.”
Prior to joining Leviton, Morgan spent the past 13 years as the chief technical officer for Worthington Distribution and the VP of Worthington University. Previously, he spent 10 years in security and automation manufacturing with Home Automation and Apex.
He has chaired the Consumer Electronics Association’s TechHome Mark of Excellence Awards Committee and worked with the Z-Wave Alliance’s interoperability displays shown at the Consumer Electronics Show (CES) and the Custom Electronic Design & Installation Association (CEDIA) tradeshows.