Posted October 25, 2018

Lawson Products sales climb 17 percent

Lawson Products said its sales of $88.5 million for the third quarter were up 17.0 percent from the same period last year.

Average daily sales increased to $1.405 million during the third quarter of 2018 compared to $1.201 million in the third quarter of 2017. The acquisition of Bolt Supply added sales of $9.8 million.

The distributor of products and services to the MRO marketplace posted a net loss of $0.8 million or 9 cents per diluted share.

"We delivered a 17.0 percent sales increase, driven by improved Lawson sales rep productivity as well as the inclusion of Bolt Supply. In addition, our adjusted operating income grew by nearly 45 percent, demonstrating our ability to leverage our existing infrastructure," said Michael DeCata, president and chief executive officer.