Essendant sales decline 0.5 percent
Essendant said its second quarter sales declined 0.5 percent to $1.3 billion in the quarter, when compared to the prior year quarter.
The decline was driven by reduced sales in the national reseller channel being partially offset by higher sales in the industrial, independent reseller and automotive channels
The industrial supplies segment sales increased 11.6 percent to $163.0 million.
The company had a net loss of $0.1 million, or 0 cents per share, compared to income of $5.1 million, or 14 cents, in the same period last year.
"Our efforts to drive sales growth in key channels began to offset the decline from national resellers. Our cost reduction efforts are successfully ramping, and our restructuring program continues to deliver expected result," said Ric Phillips, president and chief executive officer.
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.
