Safety Products Holdings and Norcross Safety Products post higher sales

12/05/2006

Designer and manufacturer of personal protection equipment Safety Products Holdings, Inc. and Norcross Safety Products LLC has reported positive results for the quarter ended April 1.

For the first quarter, net sales of the company reached $141.9 million compared with $119.9 million in the first quarter of 2005. Net sales increased to $22 million, 18.3%, which was said to be attributable to increased net sales in each of its three operating segments.

In the general safety and preparedness segment, net sales increase of $16.5 million, or 19.9%, reflected a combination of overall organic growth and incremental net sales resulting from the acquisition of The Fibre-Metal Products Company, which offset unfavourable exchange rates. In the fire service segment, net sales increased $1.1 million, or 4.7%, primarily as a result of incremental net sales from the acquisition of American Firewear, Inc. In the electrical safety segment, net sales increased $4.4 million, or 31.1%, driven by strong market demand and new product penetration.

The company’s products are sold under brand names such as North, KCL, Fibre-Metal, Morning Pride, Ranger, Servus, Pro-Warrington, American Firewear and Salisbury.