Quanex hit by weak window demand
Dec 18, 2013 | 03:00 PM
| Michael Cowden
CHICAGO Quanex Building Products Corp. bled red ink in its fiscal year ended Oct. 31 as improved construction activity failed to translate into better demand for the companys aluminum window and door components.
The Houston-based company declined to provide specific earnings before interest, taxes, depreciation and amortization (Ebitda) guidance for its Nichols Aluminum LLC subsidiary, which makes aluminum sheet, citing uncertainty surrounding new London Metal Exchange warehouse regulations (amm.com, Nov. 7).
Quanex posted a fiscal-year loss of $11.7 million, down 29.2 percent from a $16.53-million loss the previous year, on net sales that rose 14.9 percent to $952.64 million. The companys fiscal fourth quarter net loss of $1.21 million was in sharp contrast to net income of $968,000 in the same period last year despite a 17.1-percent increase in sales to $275.3 million.....
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