DXP Enterprises sales up 35.9%
DXP Enterprises said it earned net income of $14.1 million, or 92 cents per fully diluted share, for the 2012 fourth quarter.
That compares to earnings of $9.2 million, or 61 cents, in the fourth quarter of 2011.
Sales for the quarter increased 32.4% to approximately $293.0 million from $218.4 million for the same period in 2011.
For 2012, DXP reported a sales increase of 35.9% to approximately $1.09 billion from $807.0 million for 2011. Net income for the year was $51.0 million, or $3.35 per share, compared to $31.4 million, or $2.08, in 2011.
“All three segments grew revenue and profits. Innovative Pumping Solutions lead the way again with 58% sales growth and 20% operating income margins. DXP Service Centers experienced 39% sales growth with 11% operating income margins. DXP Supply Chain Services finished with 8% sales growth and a significant improvement in operating income margins to 8%," said David R. Little, chairman and chief executive officer.
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.
