DXP Enterprises income and sales rise
DXP Enterprises reported that its second quarter net income climbed to $12.2 million compared to $7.6 million in the second quarter of 2011.
Sales increased 32.5% to approximately $261.9 million from $197.7 million for the same period in 2011.
Net income for the second quarter sequentially increased 4.6% from $11.6 million to $12.2 million in the second quarter of 2012. Likewise, sales sequentially increased 3.8% from $252.3 million in the first quarter to $261.9 million in the second quarter.
“All of our acquisitions are performing well. We continue to see results from being able to leverage DXP products and service divisions to help the acquisition grow and the value proposition of the acquisition helping the region to grow," said David R. Little, chairman and chief executive office. "Our expansion into Canada has been a big success. Our expansion into metal working and increasing our presence in safety services has been very successful."
Mac McConnell, senior vice president and CFO, added that DXP has a new $325 million credit facility with the ability to increase the facility by an additional $100 million to support DXP's growth.
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.
