Interline Brands income dips
Despite improved sales, Interline Brands saw its net income fall to $9.0 million for the second quarter compared to $9.9 million in the same period last year.
Earnings fell by 3% to 28 cents per share compared to 29 cents per share last year, impacted in part by costs related to improving the company's distribution network.
Sales for the distributor and direct marketer of broad-line MRO products increased 5.4% to $334.8 million.
The facilities maintenance end-market, which comprised 78% of sales, increased 7.2% for the quarter. The professional contractor end-market, which comprised 13% of sales, increased 2.4% for the quarter. The specialty distributor end-market, which comprised 9% of sales, decreased 3.7% for the quarter.
"We were pleased to see continued sales growth in the second quarter driven by our strategic investments and further improvement in our end-markets. We will continue to execute on our growth strategy as we seek to further establish Interline Brands as a premier broad-line MRO distributor," said Michael J. Grebe, chairman and CEO.
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.
