Simpson Manufacturing Company Inc (SSD) has reported a 37.98 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $29.80 million, or $0.62 a share in the quarter, compared with $21.60 million, or $0.44 a share for the same period last year.
Revenue during the quarter grew 6.86 percent to $230.97 million from $216.14 million in the previous year period. Gross margin for the quarter expanded 270 basis points over the previous year period to 49.13 percent. Total expenses were 80.18 percent of quarterly revenues, down from 83.69 percent for the same period last year. This has led to an improvement of 351 basis points in operating margin to 19.82 percent.
Operating income for the quarter was $45.78 million, compared with $35.25 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 $475.58 million as at Sep. 30, 2016, down 4.81 percent or $24.06 million from $499.64 million on Sep. 30, 2015. Current ratio was at 5.05 as on Sep. 30, 2016, down from 5.93 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 122 days for the quarter from 202 days for the last year period. Days sales outstanding went down to 56 days for the quarter compared with 58 days for the same period last year.
Days inventory outstanding has decreased to 86 days for the quarter compared with 164 days for the previous year period. At the same time, days payable outstanding was almost stable at 20 days for the quarter, when compared with the previous year period.
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