Interline Brands 2Q sales up 5.2 percent
Interline Brands reported that its second quarter sales increased 5.2% to $447.7 million versus prior second quarter.
Sales to institutional facilities customers, comprising 51% of sales, increased 3.6% for the quarter. Sales to multi-family housing facilities customers, comprising 30% of sales, increased 10.7% for the quarter. Sales to residential facilities customers, comprising 19% of sales, increased 2.1% for the quarter.
Net income for the quarter was $3.9 million, compared to a net loss of $38.6 million for the second quarter of 2014.
Sales for the first six months of the year were $859.5 million, a 5.1% increase compared to sales of $818.0 million for the same period last year.
In July, Home Depot announced plans to acquire Interline Brands for $1.625 billion in cash.
"We continue to be very encouraged by the broad-based growth we are seeing across all of our facilities maintenance end-markets, led by multi-family, which increased over 10 percent this quarter. Our top-line performance has been accelerating on both a year-over-year and sequential basis, driven by our strategic investments in the business," said Michael J. Grebe, chairman and chief executive officer. "As we embark on our new partnership with The Home Depot, we are excited about the enhanced capabilities and services we will be able to offer our customers."
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.
