Quanex’s Engineered Products Group Reports 5.2 Percent Increase in Net SalesDecember 27th, 2012 by DWM Magazine
The Engineered Products Group (EPG) of Houston-based Quanex has reported its net sales for the fourth quarter of fiscal-year 2012 as $136.4 million, compared with $129.6 million a year ago—a 5.2-percent increase. The company attributes the increase to sales of higher insulating glass (IG) spacers and vinyl extrusions.
The EPG, which includes Edgetech I.G., saw an operating income of $13.5 million for the quarter, compared with $14.9 million from the fourth quarter of fiscal-year 2011. For the full year, the EPG reported net sales of $478.6 million, compared to $420.3 million last year. The company attributes the surge to the April 2011 acquisition of Edgetech and to its higher vinyl extrusion sales.
Overall, Quanex reported consolidated fourth-quarter 2012 net sales of $235.0 million, compared to $233.0 million a year ago. The company’s consolidated net sales for 2012 were $829.0 million, compared to $848.3 million last year.