Posted April 19, 2018

Lawson Products Q1 sales up 13.2 percent

Lawson Products announced that sales increased 13.2 percent to $84.5 million for the first quarter of 2018 compared to $74.6 million in 2017.

Average daily sales grew 15.0 percent to $1.341 million compared to $1.166 million in the previous year quarter. Sales were positively impacted by $8.0 million from the inclusion of the Bolt Supply acquisition completed in the beginning of the fourth quarter of 2017 and the 6.4 percent improvement of Lawson sales rep productivity compared to the first quarter 2017.

Net income for the quarter was $1.2 million, or 13 cents per diluted share compared to net income of $0.9 million, or 9 cents per diluted share, for the same period a year ago. 

"Our performance this quarter demonstrated the benefit of our acquisition strategy as well as our ability to leverage our infrastructure as we grow organic sales. Our improving financial performance is a continuation of benefits realized by the investments we have made over the past several years, combined with a stronger industrial economy. We will continue to execute our plan to achieve higher profit through increased sales combined with leveraging our infrastructure," said Michael DeCata, president and chief executive officer.