HD Supply sales up 4.4 percent in 2016
HD Supply reported net sales of $7.4 billion for the full-year fiscal 2016, an increase of 4.4 percent compared to fiscal 2015.
Net income decreased to $196 million for the full-year fiscal 2016 as compared to $1.47 billion for the full-year fiscal 2015. Net income per diluted share decreased $6.34 to 97 cents for the full-year fiscal 2016 as compared to $7.31 for the full-year fiscal 2015. Net income for full-year fiscal 2015 included a $1.0 billion tax benefit resulting from the reversal of the deferred tax asset valuation allowance, a $189 million non-cash tax credit from the settlement of an IRS audit, and a $186 million pre-tax gain on the sale of the Power Solutions business unit.
For the fourth quarter, net sales increased $50 million, or 3.2 percent, to $1.63 billion compared to $1.59 billion for the fourth quarter of fiscal 2015. Net income decreased $819 million to $52 million for the fourth quarter of fiscal 2016 as compared to $871 million for the fourth quarter of fiscal 2015. Net income per diluted share decreased $4.07, to 26 cents for the fourth quarter of fiscal 2016 as compared to $4.33 per diluted share for the fourth quarter of fiscal 2015.
For the Facilities Maintenance business unit, net sales increased 2.7 percent to $2.76 billion in the full-year fiscal 2016, as compared to $2.69 billion for the full-year fiscal 2015.
For the Waterworks business unit, net sales increased 4.5 percent to $2.62 billion in the full-year fiscal 2016, as compared to $2.51 billion for the full-year fiscal 2016.
Beginning in the fourth quarter of fiscal 2016, the Home Improvement Solutions operations were combined with the Construction & Industrial business unit. Net sales increased 6.8 percent to $2.06 billion in the full-year fiscal 2016, as compared to $1.93 billion for the full-year fiscal 2015.
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.
