Dayton Superior, leading North American provider of specialized products for the non-residential concrete construction market, last week reported a 3-percent increase in net sales for the second quarter, with gross profit up 16 percent and record second quarter net income nearly doubling on a year-over-year basis.
Net sales for the second quarter were $141 million, up 3 percent from $137.5 percent for last year’s second quarter. Gross profit jumped from $44.4 million in last year’s second quarter to $51.3 million this year. Net income increased from $4.38 million in last year’s second quarter to $8.46 million in this year’s quarter, an increase of 93.1 percent.
Revenues from rental of concrete forming and shoring equipment, however, dropped to $13.6 million compared with $14.9 million in last year’s second quarter, an 8.7-percent decline. The company said the rental decrease was caused by slower non-residential construction in some regions.
“We are proud of our operational and organizational improvements in this difficult market environment,” said Eric Zimmerman, president and CEO. “Our marketing and sales disciplines, manufacturing productivity, distribution center controls, and new product sales were all keys to our improved performance. In light of the non-residential construction challenges in some regions, intense steel cost inflation, and continued tight credit markets, we are pleased with our results through June.”
Dayton Superior, based in Dayton, Ohio, is believed to be the largest concrete forming and shoring rental company serving the domestic, non-residential construction market. It also manufactures and sells specialized products for non-residential, concrete construction. It is No. 30 on the RER 100.