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US Simpson Strong-Tie 2012 Full Year & 2013 H1 Financial Report
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2013-08-19
Years Ended December 31                   (in $ thousands)
 
2012
2011
2010
2009
2008
Net sales
657,236
(up 8.9%)
603,446
555,487
526,544
676,724
Gross profit
283,477
270,804
244,138
184,899
272,561
Net income
41,918
(up 17.6%)
50,900
28,586
12,217
53,934
Total assets
890,322
(up 8.6%)
836,087
874,709
843,805
830,200
 
2013 Q2 & H1 Results
(in $ thousands)
Three Months Ended June 30,
Six Months Ended June 30,
 
2013
2012
2013
2012
Net sales
195,596
181,703
350,130
340,437
Gross profit
89,420
18,346
154,394
152,551
Net income
18,502
15,859
23,297
23,060
 
 
 
 
 
 
 
The increase in net sales was primarily due to increased sales in North America, which were positively affected by improved economic conditions, including a greater number of housing starts compared to the first half of 2012.
 
o North America net sales were up 5.5% in the first half of 2013, compared to the first half of 2012. Sales in the United States increased over the same period in 2012. Canada net sales decreased slightly over the same period in 2012 due to lower sales volumes and lower selling prices.
 
o Europe net sales decreased 10.2% in the first half of 2013, compared to the first half of 2012, primarily due to exiting the heavy-duty mechanical anchor business, the region’s economic conditions, lower sales volumes and lower selling prices. Based on current information, the Company does not expect the region’s economic conditions to improve during the second half of 2013, which will continue to negatively affect net sales.
 
 
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