NOW Inc. posts double-digit sales gain
NOW Inc. said its fourth quarter revenue of $764 million was up 14 percent year over year.
Net income of $16 million for the quarter, or 14 cents per share, compared to a net loss of $3 million, or a loss of 3 cents per share, a year ago.
For the full year, revenues of $3.1 billion were up 18.1 percent from $2.6 billion in 2017. Net income of $52 million for the year, or 47 cents per share, compared to a loss of $52 million, or a loss of 48 cents per share, in the prior year.
“We are encouraged about delivering solid top line, bottom line and free cash flow results in 2018, in a market that has seen, for the most part, an uneven recovery. During the fourth quarter, we were able to sustain gross margin percent gains, improve operating efficiencies, generate $69 million in free cash flow and reduce net debt to $16 million," said Robert Workman, president and CEO.
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.
