Financial Flash

Quanex Building Products Announces Positive Third Quarter Results

Quanex Building Products re-ported positive numbers in its third quarter financial results for the fiscal year 2018. The company’s reported net sales were $239.8 million, up from $229.4 million during the same period of 2017. For the nine months ending on July 31, Quanex reported net sales of $645.7 million, up from $634.4 million for the first nine months of fiscal year 2017.

The net income for the third quarter was $10.8 million, making the net income for fiscal year 2018 so far $19.8 million. These numbers are up from this time in 2017 when the third quarter net income was $10.2 million and the net in-come at the end of nine months was $8 million.

The company attributes the increase in net sales to the market growth and to the increase in prices of raw materials. They attribute the growth in net income to lower depreciation and amortization, along with a lower tax rate.

The total fenestration sales analysis was also up in 2018 for both U.S. and international sales of North American engineered components. Non-fenestration sales were down in the U.S. but up internationally.

Glaston Optimistic After Half-Year Financial Report

Glaston Corp.’s operating profit for the first half of 2018 was $1.8 million (EUR 1.6 million). Its net sales were $58.2 million (EUR 50.3 million), down from $64.2 million (EUR 55.5 million) from the same period in 2017. Orders received totaled $60.1 million (EUR 52 million), up from last year.

Machines

The machines market demand continued to be strong, particularly in the Europe, Middle East and Africa area. The most positive development was in Central and Eastern Europe. In the North American market, demand picked up significantly toward the end of the second quarter, while in the South American market demand remained subdued. Despite the good market activity in the U.S. and Canada, customers’ decision-making was still slow.

New Technologies

Glaston established the emerging technologies unit at the beginning of 2017.

The nanotechnology company Heliotrope Technologies is developing a new smart glass technology for the market, and Glaston’s role in the project is production line developer. In the second quarter, the Heliotrope prototype line was in test production, and the line operated in accordance with expectations.

Services

In the second quarter, the services business market continued to be relatively calm. North America was the strongest of the sales areas.

In the April to June period, demand for upgraded products was on a lower level than in the first quarter. The exception here was North America, where demand for upgrades continued to be good.

Spare parts sales grew from the first quarter’s low level. Field service also grew compared with the first quarter.

To view the laid-in version of this article in our digital edition, CLICK HERE.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.