Lawson Products sales and earnings up
Lawson Products said 2Q net sales increased for the fourth consecutive quarter, up 5.5% to $72.1 million.
Net income was $0.8 million, or 9 cents per diluted share, compared to net income of $0.4 million, or 5 cents, for the same period a year ago.
“The combination of our upward sales trend and benefits from investments in our operations and sales organization are beginning to deliver the desired results. With the addition of 42 direct sales reps in the second quarter, we remain on pace to grow our sales team by 15% to 20% percent this year," said Michael DeCata, president and chief executive officer.
Outstanding debt at the end of the second quarter was $2.4 million, a decrease of $9.2 million from the first quarter of 2014 and a decline of $20.8 million from the second quarter of 2013.
“Going forward we will continue to focus on our key objectives: improving volume from existing sales reps, while continuing to add new sales reps; maintaining high customer service levels; remaining disciplined as we reinvest in the business; and effectively managing our expenses,” said DeCata.
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.
