DXP Enterprises sales up 23.1%
DXP Enterprises said sales for the fourth quarter of 2010 increased 23.1% to approximately $169.7 million from $137.8 million for the same period in 2009.
For the year, DXP reported a sales increase of 12.5% to approximately $656.2 million from $583.2 million for 2009.
The Houston-based distributor earned net income of $5.9 million, or 39 cents per fully diluted share, compared to $2.6 million, or 19 cents per share, in the fourth quarter of 2010.
For the year, DXP reported net income of $19.4 million, with diluted EPS of $1.32 compared to $10.7 million, or 76 cents per share in the previous year. f
"2011 looks bright as we enter the year with strong financial resources, great technology and an experienced team capable of delivering great products and services to our customers and excellent financial results to our shareholders. We believe that most of our markets, especially oil and gas, are improving," said David R. Little, chairman and chief executive officer.
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.
