United Stationers sales up 2.8%
United Stationers said its first-quarter net sales were up 2.8% to $1.3 billion.
Adjusted net income was $19.0 million, compared with $22.1 million in the prior-year quarter.
The results included a pre-tax charge of $6.2 million related to facility closures and severance costs.
Strong growth was seen in the industrial supplies and janitorial/breakroom categories with sales up 21.3% and 11.9%, respectively. The office products category was up 2.0% and furniture growth was soft at 1.0%. These gains were partially offset by a 6.4% decline in the technology products category.
"Our first quarter results reflected strong momentum in our growth businesses," said Cody Phipps, president and chief executive officer. "We are pleased with our progress in optimizing our distribution operations and organization. These efforts reduce costs, utilize our assets more effectively and allow us to better serve customers in the near term, while positioning the company for long-term growth."
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.
