Acme United's sales increase
Acme United Corporation announced that net sales for the fourth quarter were $13.4 million compared to $12.6 million in the same period in 2008, an increase of 7%.
Net sales for the year were $59.1 million, compared to $68.7 million in the same period in 2008, a decrease of 14%.
Net income for the fourth quarter was $731,000, or 22 cents per diluted share, compared to $634,000, or 18 cents per diluted share, for the comparable period last year, an increase of 22%. Net income for the year was $2.8 million or 85 cents per diluted share, compared to $4.4 million or $1.24 per diluted share, in the comparable period last year.
In the U.S., net sales for the year decreased 16% compared to 2008. Net sales in Canada decreased 13% in U.S. dollars compared to 2008, and 6% in local currency. European net sales for the year increased 3% in U.S. dollars and 8% in local currency compared to 2008.
Acme United Corp. is a supplier of cutting devices, measuring instruments and safety products for school, home, office, industrial and hardware use. Its brands include Westcott and Clauss.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
