Interline Brands sales up 20.5 percent
Interline Brands reported that sales increased 20.5% to $390.1 million in the fourth quarter.
On an organic sales basis, sales increased 5.9% for the quarter. Sales to institutional facilities customers, comprising 50% of sales, increased 40.8%. Sales to multi-family housing facilities customers, comprising 28% of sales, increased 8.6%. Sales to residential facilities customers, comprising 22% of sales, increased 1.4%.
"We closed out the year with strong momentum as we achieved our highest quarterly organic sales growth since the third quarter of 2006. I am particularly encouraged by the strength of the market fundamentals that underpinned our growth across all of our facilities maintenance end-markets," said Michael J. Grebe, chairman and chief executive officer.
Net income of $1.17 million for the quarter compared to a loss of $3.73 milion in the same period last year.
Sales for the year were $1.59 billion, a 20.9% increase compared to $1.32 billion for 2012. The company posted a loss of $6.34 million for the full year, compared to a loss of $15.6 million in 2012.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
