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Quanex Reports Sales Increase in Second Quarter

Post Time:Jun 10,2013Classify:Industry NewsView:48

Quanex Building Products Corp. reported consolidated second quarter 2013 net sales were $232.5 million, compared to $194.4 million a year ago. Second quarter 2013 net loss was $7.3 million, compared to a net loss of $12.3 million in the year-ago quarter. Quanex's business segments are highly cyclical with the building and construction market, and the impact of adverse winter weather. As a result, Quanex typically reports lower revenue and operating income results during the first half of its fiscal year when building and construction activity is reduced compared to the second half of its fiscal year, officials said in a release.

The Engineered Products Group, focused on providing window and door OEMs with fenestration components, products, and systems, had second quarter 2013 net sales of $125.2 million compared to $108.8 million a year ago. The 15.1% improvement was primarily related to the acquisition of Aluminite, as well as higher sales across the segment's products, according to the release.

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Source: http://www.glassmagazine.com/news-item/commercial/quanex-reports-sales-increase-second-quarter-1311254Author:

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