Posted July 25, 2019

Lawson Products sales grew 6.3 percent

Lawson Products said its second quarter sales of $96.1 million increased 6.3 percent year-over-year. 

Sales growth reflected a 3.0 percent increase in the Lawson segment sales rep productivity driven by increases with government, core and Kent Automotive customers. The Bolt Supply House, which represents approximately 12 percent of consolidated sales, increased 14.0 percent, reflecting strength across multiple product categories. In addition, Screw Products, which was acquired in the fourth quarter of 2018, contributed to the increase with sales of $0.7 million.

"Our strategy to improve sales rep productivity through ongoing training, support and improved customer fulfillment processes has continued to produce positive results over the past few years. Going forward, we are well positioned to drive additional earnings through leveraging our infrastructure on organic growth and through acquisitions,” said Michael DeCata, president and chief executive officer..

Reported net income for the second quarter of 2019 was $1.3 million, or 14 cents per diluted share, compared to $3.2 million, or 35 cents, for the same period a year ago.