Posted April 30, 2010
Sales decline at Interline Brands
Interline Brands Inc. reported sales for the first quarter of 2010 decreased 4.5% to $245.2 million compared to the first quarter of 2009.
Earnings per diluted share were 17 cents for the first quarter of 2010, an increase of 89% compared to 9 cents for the same period last year.
Interline's facilities maintenance end-market, which comprised 72% of sales, declined 3.1% during the first quarter. The professional contractor end-market, which comprised 16% of sales, declined 8.9% for the quarter. The specialty distributor end-market, which comprised 12% of sales, declined 6.7% for the quarter.
"In the face of continued economic uncertainty and some challenges posed by weather, I am pleased with our progression during the quarter. We are by no means where we want to be yet, but we are encouraged by the direction of our performance," said Michael J. Grebe, Interline's chairman and CEO. "We are beginning to see more stability in certain end-markets and we are confident that our competitive position will serve us well as conditions continue to improve."
