Posted February 10, 2011
United Stationers sales inch higher
United Stationers reported fourth quarter net sales were $1.2 billion, up 0.3% from the prior year's fourth quarter.
Sales in the industrial supplies category grew by 25%. United Stationers is the parent company for wholesale distributor ORS Nasco.
Adjusted net income in the quarter was up 15% to $27.7 million, or $1.31 per share, versus $24.1 million, or 98 cents per share, in the prior-year quarter.
For the full year, net sales were up by 2.6% to $4.8 billion. Adjusted net income in 2010 was up 12% to $105.6 million, or $4.67 per share, versus $94.3 million, or $3.91 per share, in the prior year.
"While there are signs that segments of the economy are gradually improving, our focus remains on growth initiatives that are not totally dependent upon an economic recovery," said Cody Phipps, president of United Stationers. "These include targeted strategies to attract new resellers and help resellers grow with a broader product offering, e-commerce development, public sector opportunities, and supply chain efficiency initiatives."
