Simpson Manufacturing Q4 Profit Rises

(RTTNews) - Simpson Manufacturing Co., Inc. (SSD) reported that its fourth-quarter net income rose to $28.06 million or $0.63 per share from $12.76 million or $0.28 per share in the prior year.

Income from operations were $36.6 million up 94.4% from the prior year, primarily due to higher net sales as well as a $2.3 million decrease in total operating expenses. The latest-quarter result included a $5.6 million gain on the sale of a selling and distribution facility within the North America segment and increased SAP-related expenses of $1.7 million year-over-year.

Net sales for the quarter were $262.5 million up 8.5% from $241.8 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share and revenues of $263.61 million for the quarter. Analysts' estimates typically exclude special items.