Lawson Products 4Q sales up 7 percent

Lawson Products reported fourth-quarter sales of $86.3 million, up 7.0 percent from $80.6 million in the same period last year.

Average daily sales grew to $1.4 million in the quarter compared with $1.3 million a year earlier. The growth in sales was primarily due to improved demand across all Lawson MRO customer categories, a 12 percent increase at The Bolt Supply House as well as the inclusion of $0.6 million from Screw Products which was acquired at the beginning of the fourth quarter of 2018.

Net income of $2.6 million, or 28 cents per diluted share, declined from $20.2 million, or $2.21 per share, in the fourth quarter of last year. The fourth quarter of 2017 included a one-time tax benefit of $20.4 million primarily from re-establishing U.S. deferred tax assets and the impact of the Tax Cuts and Jobs Act.

Full year sales increase of 14.3 percent to $349.6 million. Net income for the full year of $6.2 million, or 67 cents per diluted share, compared to $29.7 million, or $3.25 per share, in 2017.

“Our 2018 growth was achieved through broad-based demand within the Lawson segment in all customer and product categories, a full year of The Bolt Supply House included in our results and the completion of our sixth acquisition in three years at the beginning of the quarter," said Michael DeCata, president and chief executive officer

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