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Quanex reports FY12 second quarter results; expects to complete IG spacer facility consolidation by August

Post Time:Jun 04,2012Classify:Industry NewsView:51

Quanex Building Products Corp. released fiscal 2012 second quarter results for the period ending April 30, 2012, reflecting consolidated net sales of $194.4 million, compared to $203.1 million a year ago.

Second quarter 2012 net sales for the Engineered Products Group--focused on fenestration components, products, and systems--were $108.8 million compared to $82.5 million a year ago. The improvement in sales was predominantly related to higher vinyl extrusion sales at Mikron, and the benefit of a full quarter's results from Edgetech compared to its one-month results in the year -ago quarter, according to the release. EPG's second quarter 2012 operating income was $0.1 million compared to $1.9 million a year ago.

EPG is expected to report operating income of about $30 million in the second half of 2012, which excludes $3 million of IG spacer consolidation program expenses. Quanex expects to complete the consolidation of its IG spacer manufacturing facility in Barbourville, Ky., into its facility in Cambridge, Ohio, by August 2012.

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Source: http://www.glassmagazine.com/news-item/commercial/quanex-reports-fy12-second-quarter-results-expects-complete-ig-spacer-facility-Author:

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