Atkore International Holdings Inc announced that its results for Q1 2012 ended December 30th 2011. Overall net sales for Q1 2012 totaled USD 379 million, an increase of USD 27 million from USD 352 million accrued during September 25th 2010 to December 22nd 2010.

The boost in net sales can be attributed to an increase in average selling prices from the North American steel, pipe, tube, conduit and cable products. Changes in foreign currency exchange rates had an unfavorable impact of USD 2 million, primarily as a result of the appreciation of the US dollar versus the Brazilian real. Operating income for Q1 2012 decreased by USD 8 million which can be partially attributed to lower gross profit of USD 3 million as a result of increases in steel and copper raw material costs.

More specifically, Atkore's global pipe, tube and conduit net sales increased by USD 5 million to USD 244 million due partially to a USD 13 million increase in net sales attributable to higher average selling prices with the North American steel pipe, tube and conduit products normally having the largest impact on net sales in this segment. Operating income decreased by USD 6 million during Q1 mostly due to a USD 16 million unfavorable impact from higher average raw material steel costs in North America.

(Sourced from Steel Orbis)
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