Ironclad Performance Wear sales up 35%
Ironclad Performance Wear reported net sales for the fourth quarter of 2011 of $7.68 million, an increase of 34.9% percent from $5.70 million in Q4 2010.
Net income increased to $605,856, or 1 cent per share, compared to $597,140, or 1 cent per share, in the same period last year.
"As evidenced by Ironclad's financial results, the fourth quarter was exceptional on virtually all fronts – sales, operating leverage and profitability," said Scott Jarus, chairman and CEO of Ironclad. "While we saw downward pressure on our gross margins caused by increases in big box retailer and international sales, these were more than off-set by significant increases in sales volume and continued growth in Ironclad's industrial distribution channel."
Full-year net sales for 2011 were $21.4 million, representing a 42.7% increase from the 2010 net sales of $15.0 million. Net Income for 2011 increased to $1.1 million, representing a 207% growth when compared to a net income of $365,577 in the prior year.
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.
