Simpson Manufacturing Co., Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Effective Tax Rate Guidance for the Year 2016
July 28, 2016 at 05:00 pm EDT
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Simpson Manufacturing Co., Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net sales of USD 229.973 million compared to USD 216.665 million a year ago. Income from operations was USD 40.924 million compared to USD 35.009 million a year ago. Income before taxes was USD 40.841 million compared to USD 34.955 million a year ago. Net income was USD 26.201 million compared to USD 21.509 million a year ago. Basic and diluted earnings per share was USD 0.54 compared to diluted earnings per share of USD 0.43 a year ago.
For the six months, the company reported net sales of USD 429.496 million compared to USD 393.156 million a year ago. Income from operations was USD 67.565 million compared to USD 51.286 million a year ago. Income before taxes was USD 67.247 million compared to USD 51.197 million a year ago. Net income was USD 42.544 million compared to USD 31.560 million a year ago. Basic and diluted earnings per share was USD 0.88 compared to USD 0.64 a year ago. The company's effective income tax rate decreased to 37% from 38% primarily due to reduced operating losses in the Asia/Pacific segment.
Based on current information and subject to future events and circumstances, the company estimates that its full-year 2016 effective tax rate will be between 37% and 39%.
Simpson Manufacturing Co., Inc., through its subsidiary, Simpson Strong-Tie Company Inc. designs, engineers and manufactures structural solutions for wood, concrete, and steel connections. Its wood construction products include connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products. Its wood construction products are used in light-frame building applications. Its concrete construction products include adhesives, chemicals, mechanical anchors, carbide drill bits, fiber reinforced materials and other repair products used for protection and strengthening structures. Its concrete construction products are used in concrete, masonry and steel construction. It markets its products to the residential construction, light industrial and commercial construction, remodeling and do-it-yourself markets. It also operates as designer and manufacturer and distributor of fixing and fastening solutions for the European building and construction market.
Simpson Manufacturing Co., Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Effective Tax Rate Guidance for the Year 2016
SIMPSON MANUFACTURING CO., INC. 
