Simpson Manufacturing Company (SSD) has reported 41.47 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $23.12 million, or $0.48 a share in the quarter, compared with $16.34 million, or $0.34 a share for the same period last year.
Revenue during the quarter grew 10.20 percent to $219.87 million from $199.52 million in the previous year period. Gross margin for the quarter contracted 82 basis points over the previous year period to 45.55 percent. Total expenses were 89.71 percent of quarterly revenues, up from 86.65 percent for the same period last year. That has resulted in a contraction of 306 basis points in operating margin to 10.29 percent.
Operating income for the quarter was $22.63 million, compared with $26.64 million in the previous year period.
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