India, Oct. 26 -- Simpson Manufacturing Co., Inc. (SSD) on Monday reported an increase in third-quarter profit, driven largely by higher sales and lower operating expenses. The company also announced a $1.0 billion share repurchase authorization.
Net income increased to $109.1 million, or $2.68 per share, from $107.4 million, or $2.58 per share, a year earlier.
Net sales rose 2.3% to $638.1 million. North America sales increased 3.8% to $502.0 million, while Europe sales declined 3.4% to $129.9 million.
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Separately, the board approved a new $1.0 billion share repurchase authorization, replacing the previous $200 million authorization, with no expiration ...