Simpson Manufacturing Sales Fall 4.2% in 3Q

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October 29, 2007

Simpson Manufacturing Sales Fall 4.2% in 3Q

Simpson Manufacturing Co., Inc., Pleasanton, CA, reported sales in the third quarter 2007 fell 4.2% to $217.3 million from the prior-year period. Profit decreased 16.4% to $22.6 million for the third quarter 2007.

In the first nine months of 2007, sales decreased 6.1% to $641.7 million and profit fell 18.6% to $68.3 million.

In the third quarter of 2007, sales declined throughout most regions of the U.S. The decline was sharpest in the southeastern region and in California. Sales during the quarter in Canada increased significantly while sales in Europe were up slightly.

Simpson Strong-Tie s third-quarter sales decreased 2.5% from the same quarter last year, while Simpson Dura-Vent sales decreased 17.3%. Simpson Strong-Tie sales to contractor distributors had the largest percentage rate decrease while sales to home centers increased.

Sales decreased across most of Simpson Strong-Tie major product lines, particularly those used in new home construction.

Sales of the Swan Secure Products Company, Inc. products, acquired in July 2007, accounted for 3.3% of Simpson Strong-Tie third quarter sales. With the exception of Direct-Vent, sales of all of Simpson Dura-Vent product lines decreased as a result of several factors, including the decline in new home construction.

In the first nine months of 2007, sales declined throughout the U.S. while sales in Europe and Canada increased. Simpson Strong-Tie sales decreased 3.7% during the first nine months of 2007 as compared to the same period last year, while Simpson Dura-Vent sales decreased 28.1%.

Simpson Strong-Tie sales to dealer and contractor distributors had the largest percentage rate decreases, reflecting slower homebuilding activity, while sales to home centers increased. Sales decreased across most of Simpson Strong-Tie major product lines, particularly those used in new home construction. Sales of all of Simpson Dura-Vent s product lines decreased.

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