Harvey, Illinois-based pipe and tube manufacturer Atkore International Holdings Inc. announced Thursday its results for Q1-- the three months ended December 30, 2011--of fiscal year 2012. Overall net sales for Q1 totaled US$379 million--an increase of US$27 million from US$352 million accrued during September 25, 2010 to December 22, 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 US$2 million, primarily as a result of the appreciation of the US dollar versus the Brazilian real. Operating income for Q1 decreased by US$8 million which can be partially attributed to lower gross profit of US$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 US$5 million to US$244 million due partially to a US$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 US$6 million during Q1 mostly due to a US$16 million unfavorable impact from higher average raw material steel costs in North America.