Quanex Building Products Corp.has reported that it achieved consolidated net sales of$237.9 million for the third-quarter of fiscal year(FY)2012,compared to$252.4 million for the same period a year ago-a decrease of 5.7 percent.
The company's Engineered Products Group(EPG),which is focused on door and window components and systems,reported third-quarter net sales of$134.1 million,compared to$124.1 million a year ago.The company attributes the 8 percent improvement in sales to higher vinyl extrusion sales.
The EPG's third-quarter 2012 operating income was$13.1 million,compared to$14.1 million a year ago.According to the company,these figures include an insulating glass(IG)warranty benefit from a change in estimate of$0.8 million.In addition,expenses related to the consolidation of its Barbourville,Ky.,and Cambridge,Ohio,insulating glass facilities were$2.5 million in the quarter.According to the release,the Barbour facility is now closed and is being prepared for sale.
Looking to the future,company officials predict that"difficult macro-economic factors will continue to create tough market conditions for Quanex."
