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
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
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
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
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
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