Quanex Building Products Corporation - NX - Fiscal 2012 Fourth Quarter and Year-End Results
12/21/2012 10:27:33 AM
Quanex Building Products Corporation (NYSE:NX), a leading manufacturer of engineered materials, components and systems serving domestic and international window and door OEMs through its Engineered Products and Aluminum Sheet Products Groups, released fiscal 2012 fourth quarter and year-end results for the period ending October 31, 2012.
- Reported Operating Income of $0.03 per Diluted Share for the Quarter; $0.45 Loss for 2012
- Nichols Aluminum Davenport Union Approved New 5 Year Contract in the Fourth Quarter
- Insulating Glass Spacer Facility Consolidation Completed in Fourth Quarter
- Engineered Products Group Outperformed its End Market in 2012
Consolidated fourth quarter 2012 net sales were $235.0 million, compared to $233.0 million a year ago. Fourth quarter 2012 diluted income from continuing operations was $0.03 per share compared to diluted income of $0.17 per share in the year ago quarter.
Consolidated net sales for 2012 were $829.0 million, compared to $848.3 million last year. The decrease in consolidated net sales was primarily attributable to a $78.2 million decline in net sales at Nichols Aluminum. 2012 diluted loss from continuing operations was $0.45 per share, compared to $0.24 of diluted income per share last year. The 2012 operating loss was due primarily to the strike-related cost at Nichols, insulating glass (IG) facility consolidation costs, and on-going ERP implementation costs.
NX - Dividend Declared
As previously announced, on December 6, 2012, the Board of Directors declared a quarterly cash dividend of $0.04 per share on the company's common stock, payable December 28, 2012, to shareholders of record on December 18, 2012.
About Quanex Building Products Corporation - NX
Quanex Building Products Corporation (NX) operates in two business segments: Engineered Products and Aluminum Sheet Products. The Engineered Products segment manufactures engineered products and components serving the window and door industry, while the Aluminum Sheet Products segment produces mill finished and coated aluminum sheet serving the building products markets and secondary markets, such as capital goods and transportation. Quanex is engaged in the production of aluminum flat-rolled sheet, extruded vinyl profiles, flexible insulating glass (IG) spacer systems, solar panel sealants, and metal and wood products that primarily serve the North American residential building products markets. NX has 17 manufacturing facilities, including one non-operating facility, in 10 states in the United States.