Simpson Manufacturing Company Inc (SSD) has reported an 18.06 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $17.39 million, or $0.36 a share in the quarter, compared with $14.73 million, or $0.30 a share for the same period last year.
Revenue during the quarter grew 8.35 percent to $200.19 million from $184.76 million in the previous year period. Gross margin for the quarter expanded 264 basis points over the previous year period to 47.44 percent. Total expenses were 86.94 percent of quarterly revenues, down from 87.83 percent for the same period last year. This has led to an improvement of 89 basis points in operating margin to 13.06 percent.
Operating income for the quarter was $26.14 million, compared with $22.48 million in the previous year period.
Working capital decreases marginally
Simpson Manufacturing Company Inc has witnessed a decline in the working capital over the last year. It stood at $476.45 million as at Dec. 31, 2016, down 3.61 percent or $17.86 million from $494.31 million on Dec. 31, 2015. Current ratio was at 5.38 as on Dec. 31, 2016, down from 6.21 on Dec. 31, 2015.
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