Simpson Manufacturing sales up 11%
Simpson Manufacturing, the parent company of Simpson Strong-Tie reported first quarter 2018 consolidated net sales of $244.8 million, an 11% increase from sales of $219.9 million for the first quarter of 2017.
The Pleasanton, Calif.-based manufacturer also reported a consolidated net income of $25.4 million for the period, a 10% increase compared to net income of $23.1 million for the same period a year ago.
"The first quarter marked a strong start to the year as we continued to perform against our strategic plan to ensure long–term sustainable growth and operational excellence," said Karen Colonias, president and CEO of Simpson Manufacturing Co., Inc.
Earlier this month the company announced an 11.5% price increase on its wood connector products sold in the United States to help offset rising materials costs. The increase is expected to become effective in June.
Simpson also continues to expand its portfolio of businesses. During the first quarter the company formed a strategic partnership and software collaboration with Hyphen Solutions, a cloud-based construction management software company.
During the first quarter Simpson also purchased from LotSpec a suite of software application assets designed to optimize efficiency and productivity for production homebuilders' needs around construction document and option management solutions.
The Pleasanton, Calif.-based manufacturer also reported a consolidated net income of $25.4 million for the period, a 10% increase compared to net income of $23.1 million for the same period a year ago.
"The first quarter marked a strong start to the year as we continued to perform against our strategic plan to ensure long–term sustainable growth and operational excellence," said Karen Colonias, president and CEO of Simpson Manufacturing Co., Inc.
Earlier this month the company announced an 11.5% price increase on its wood connector products sold in the United States to help offset rising materials costs. The increase is expected to become effective in June.
Simpson also continues to expand its portfolio of businesses. During the first quarter the company formed a strategic partnership and software collaboration with Hyphen Solutions, a cloud-based construction management software company.
During the first quarter Simpson also purchased from LotSpec a suite of software application assets designed to optimize efficiency and productivity for production homebuilders' needs around construction document and option management solutions.