Harvey, Illinois-based Atkore International Holdings Inc., a global manufacturer of galvanized steel tubes and pipes, electrical conduit, armored wire and cable, metal framing systems and building components, reported Friday financial results for their Q1 of fiscal year 2013.
Net sales increased $14 million for the three months ended December 28, 2012 to $385 million from $371 million for the three months ended December 30, 2011. The increase was due primarily to higher volume from our Global Pipe, Tube and Conduit (GPTC) products of $24 million, and $5 million of freight recovery classified as revenue in the current period. This increase was partially offset by a reduction of $10 million due to lower pricing from GPTC and an unfavorable foreign currency exchange impact of $4 million primarily as a result of the appreciation of the US Dollar versus the Brazilian Real.
For the pipe, tube and conduit segment, net sales for the three months ended December 28, 2012 increased $13 million to $249 million from $236 million for the three months ended December 30, 2011. The increase was attributable primarily to higher volume partly offset by lower average selling prices. The gradually improving non-residential construction market in North America contributed to higher volumes, up 12 percent from the three months ended December 30, 2011. The increase was also attributable to $5 million of freight recovery, which was classified as revenue in the current period. Changes in foreign currency exchange rates had an unfavorable impact of $4 million, primarily as a result of the appreciation of the US Dollar versus the Brazilian Real.
