Lawson Products sales and earnings increase
Lawson Products said its net sales were $68.2 million in the third quarter of 2013 compared to $67.9 million in the same period last year.
Net income for the period was $601,000, or 7 cents per share, compared to a loss of $1.3 million, or 15 cents per share, last year.
The company ended the quarter with 784 sales representatives, an increase of 11 from the second quarter and 27 additional sales reps since the beginning of the year. Average daily sales were flat with the second quarter and decreased slightly to $1.066 million in the third quarter of 2013 compared to $1.077 million a year ago. Average daily sales per sales representative decreased slightly, as a proportion of newly hired sales reps in the early stages of building up customer relationships in their territories has increased, the company said.
“I am pleased with our third quarter progress. This was the first quarter in nine quarters in which Lawson realized a year-over-year net sales increase," said Michael DeCata, president and chief executive officer. "We will continue to focus our efforts on sales growth including adding to our sales force. During the quarter we added 11 sales representatives putting us on track to finish the year with more than 800 active sales reps. We are encouraged to see that these efforts have begun to drive sales improvements.”
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.
