DXP Enterprises 4Q sales plummet 27.1 percent
DXP Enterprises reported sales for the fourth quarter of 2015 were $278.7 million, a decrease of 27.1 percent compared to $382.5 million for the fourth quarter of 2014.
The company posted a net loss of $209 million for the quarter, or 20 cents per share, compared to a loss of $88 million, or $6.09, in the same period last year.
Sales were $1.2 billion for fiscal year 2015, compared to $1.5 billion for 2014, a decrease of 16.9 percent. Organic sales decreased 18.4 percent, acquisitions positively impacted sales by $23.6 million for 2015.
For the full year, a net loss of $38.6 million, or a loss of $2.68 per share, compared to a loss of $45.3 million, or a loss of $3.10 per share, in 2014.
Service Centers’ revenue for the fiscal year was $826.6 million, a decline of 16.3 percent year-over-year with a 9.5 percent operating income margin. Organic revenue declined 18.7 percent year-over-year.
Innovative Pumping Solutions’ revenue for the fiscal year was $254.8 million, a decline of 26.8 percent year-over-year with an 8.5 percent operating income margin.
Supply Chain Services’ revenue for the fiscal year was $165.6 million, up 1.0 percent year-over-year with an 8.6 percent operating margin or 17 basis points improvement over 2014.
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.
