Quanex EPG Net Sales Increase 15 PercentJune 7th, 2013 by DWM Magazine
Quanex Building Products Corp. has released its fiscal 2013 second-quarter results for the period ended April 30, 2013. The company’s Engineered Products Group, which includes Edgetech IG, reported second-quarter 2013 net sales of $125.2 million compared to $108.8 million a year ago.
The company attributes the 15.1-percent improvement to its acquisition of Aluminite as well as higher sales across the segment’s products. Aluminite contributed 11.4 percent of the improvement to net sales, according to the company’s report.
EPG’s second-quarter 2013 EBITDA was $14.0 million compared to $7.1 million a year ago. Company officials attribute the change to “the benefits from last year’s insulating glass (IG) spacer facility consolidation as well as higher sales results.”
“This was partially offset by pricing concessions and higher material costs,” writes Quanex. “EPG’s second quarter 2012 results were negatively impacted by $3.7 million of IG facility consolidation expenses.”
Overall, Quanex reports consolidated second-quarter 2013 net sales of $232.5 million, compared to $194.4 million a year ago. Second-quarter 2013 net loss was $7.3 million, compared to net loss of $12.3 million in the year-ago quarter. Consolidated EBITDA was $2.2 million, compared to a loss of $6.5 million a year ago.
Fiscal year-to-date consolidated 2013 net sales were $418.2 million, compared to $356.0 million a year ago.