DXP Enterprises sales jump 23.9 percent
DXP Enterprises reported second quarter sales jumped 23.9% to $381.6 million, compared to $307.9 million for the second quarter of 2013.
Organic sales increased 4.2% and acquisitions positively impacted sales by $60.6 million.
Net income of $15.5 million, or $1.00 per share, was up 13.0% compared to $13.7 million, or 90 cents, for the second quarter of 2013.
“During the second quarter, we had strong organic growth within Supply Chain Services, organic sales were essentially flat within our Innovative Pumping Solutions and we had a modest increase within Service Centers," said David R. Little, chairman and chief executive officer.
Service Centers revenue of $248.8 million was up 14.2% year over year.
Innovative Pumping Solutions revenue was up 71% year over year to $90.5 million.
Supply Chain Services revenue was up 13.8% year over year to $42.1 million.
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.
