Interline Brands sales up 2.8%
Interline Brands reported fourth quarter were $303.0 million, a 2.8% increase compared to sales of $294.8 million in the comparable 2010 period.
On an average organic daily basis, sales increased 2.2% for the quarter. Interline's facilities maintenance end-market, which comprised 74% of sales, increased 13.6% on an average daily basis during the fourth quarter, and 3.4% on an average organic daily basis. The professional contractor end-market, which comprised 15% of sales, increased 0.5% on an average daily basis for the quarter. The specialty distributor end-market, which comprised 11% of sales, decreased 1.9% on an average daily basis for the quarter.
"Our end-market fundamentals are improving. Multi-family remains strong, we are seeing increased activity from our stable base of institutional customers as we deliver a broader MRO offering, and our residential-focused business is beginning to see some slightly higher demand," said Kenneth D. Sweder, Interline's president and chief operating officer.
Net income for the quarter increased to $8.6 million, or 26 cents per share, compared to $1.7 million, or 5 cents per share, in the comparable 2010 period.
For the full year, sales were $1.2 billion, a 14.9% increase over sales of $1.0 billion in 2010.
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.
