Volume 49, Issue 4 - April 2014

FinancialFlash

Quanex Building Products Reports Increase in EPG Sales

In its first quarter 2014 financial results, Houston-based Quanex Building Products reported its Engineered Products Group’s (EPG) saw net sales increase 19 percent to $126 million, compared with $106 million in the first quarter of 2013. The EPG includes Edgetech IG.

The EPG’s first-quarter 2014 operating income was $7.5 million compared to $2.8 million in the first quarter of 2013. The group’s first-quarter 2014 EBITDA was $15.1 million compared to $10.3 million in the first quarter of 2013.

Overall the company reported a first-quarter EBITDA of $5.7 million, compared with a loss of $4.0 million in the first quarter of 2013. The company experienced a net loss of $3.9 million for the first quarter of 2014, compared with a net loss of $8.1 million in the same period last year.

“The momentum that we started to see in the fourth quarter of last year carried over into what is historically our weakest quarter,” says Bill Griffiths, chair, president and CEO. “Including Aluminite on a pro-forma basis, we have seen average growth rates of 13.4 percent for the last two quarters. While some of this is attributable to winter inventory builds at our customers’ facilities, it is further evidence of the optimism around a continued recovery in 2014.”

 
Quanex Building Products Engineered Products Group Segment Information (In thousands) (Unaudited)
Three Months Ended January 31 2014 Three Months Ended January 31 2013
Net Sales $126,379 $106,119
Operating Income $7,491 $2,833

 


AGC’s Glass Division Improves Net Sales

Fiscal-year net sales were up compared to last year for Asahi Glass Co.’s (AGC) glass division. The company reported they were at $6.5 billion (USD) compared to $5.5 billion (USD) in the same period of 2012.

Operating profit for the company’s glass division went from a loss of $6.0 million (USD) fiscal-year 2012 to a $127.8 million (USD) in fiscal-year 2013.

Overall, the company posted an operating profit of $779.6 million (USD), compared to $993.3 million (USD) in fiscal-year 2012.

 
AGC’s Glass Segment Results In billions of USD
( ) = loss FY2013 FY2012
Net Sales $6.5 billion $5.5 billion
Operating Profit ($128 million) ($6.0 milllion)

 

 


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