Quanex Reports Net Sales Increase in Second Fiscal QuarterJune 5th, 2014 by DWM Magazine
Quanex Building Products Corporation released results for its second fiscal quarter ending April 30. According Quanex, the company’s second quarter net sales grew to $135 million, an 8 percent increase over the second quarter of 2013.
“Despite poor weather throughout much of the second quarter and recent weakness in housing and construction data, we continued to enjoy encouraging growth in all of our product lines,” says Quanex CEO Bill Griffiths. “With the seasonally strongest part of the year ahead of us, Quanex is optimistic that it can sustain growth rates in the 8-9 percent range for the full year.”
Quanex saw a second quarter operating loss of $2.8 million compared to an operating loss of $8.6 million in the second quarter of 2013.
Meanwhile, its preliminary U.S. window shipments, as reported by Ducker Worldwide, a market intelligence firm, increased 7.4 percent for the twelve months ending March 31. North American domestic fenestration sales, the most comparable sales figure to those reported by Ducker, increased 8.1 percent from the previous twelve months.