Quanex: fiscal 2012 third quarter results

Quanex Building Products Corp. has achieved consolidated net sales of USD 237.9 million for the third-quarter of fiscal year 2012, down from USD 252.4 million for the same period in 2011. Company officials predict that: “difficult macro-economic factors will continue to create tough market conditions for Quanex.”

Quanex Building Products Corp. has reported that it achieved consolidated net sales of USD 237.9 million for the third quarter of fiscal year 2012, compared to USD 252.4 million for the same period a year ago, a decrease of 5.7%.
The company’s Engineered Products Group (EPG), which is focused on door and window components and systems, reported third-quarter net sales of USD 134.1 million, compared to USD 124.1 million a year ago. The company attributes the 8% improvement in sales to higher vinyl extrusion sales.
The EPG’s third-quarter 2012 operating income was USD 13.1 million, compared to USD 14.1 million a year ago. According to the company, these figures include an insulating glass (IG) warranty benefit from a change in estimate of USD 0.8 million. In addition, expenses related to the consolidation of its Barbourville, Ky., and Cambridge, Ohio, insulating glass facilities were USD 2.5 million in the quarter. According to the release, the Barbour facility is now closed and is being prepared for sale.
Looking to the future, company officials predict that: “difficult macro-economic factors will continue to create tough market conditions for Quanex.”