Lawson Products sales climb 7.1 percent
Lawson Products said its sales of $94.8 million in the third quarter increased 7.1 percent from $88.5 million in the same period last year.
Average daily sales increased 5.4 percent to $1.481 million in the third quarter of 2019 compared to $1.405 million in 2018 with one additional selling day in 2019.
Sales growth reflected a 1.3 percent increase in the Lawson segment sales rep productivity driven by increases within strategic, Kent Automotive, government and core customer segments. The Bolt Supply House, which represents approximately 12 percent of consolidated sales, increased 15.0 percent over the prior year quarter, reflecting strength across multiple product categories and new customers.
Net income was $4.8 million for the quarter, or 51 cents per diluted share compared to a loss per diluted share of 9 cents in third quarter of 2018.
"Growth in The Bolt Supply House business along with targeted investments in the Company’s operations and sales force, combined with successfully leveraging our infrastructure on higher sales, had a positive impact on our results with adjusted EBITDA margin increasing to 10.9 percent of sales,” said Michael DeCata, president and chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
