HD Supply sales up 5.4 percent
HD Supply reported net sales of $1.4 billion for the second quarter, an increase of 5.4 percent compared to $1.3 billion in the second quarter of 2016.
Net income of $442 million for the second quarter of fiscal 2017 compared to $98 million for the second quarter of fiscal 2016. The increase was primarily due to a $323 million tax benefit within discontinued operations to record a deferred tax asset recognizing the outside basis difference in the Waterworks business.
Net income per diluted share increased to $2.22 for the second quarter, compared to 49 cents for the second quarter of fiscal 2016
In the Facilities Maintenance segment, net sales increased 3.8 percent to $769 million, compared to $741 million for the second quarter of fiscal 2016.
In the Construction & Industrial segment, net sales increased 7.4 percent to $584 million, compared to $544 million for the second quarter of fiscal 2016.
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.
