Lawson Profit & Sales Grow
Lawson Profit & Sales Grow
Jason Sandefur
Lawson Products Inc. reported net income for the third quarter of 2003 gained 16% to $4.4 million, while net sales increased 0.8% to $99.3 million.
Q3 net sales for the OEM segment increased 5.9% to $17.2 million. For the nine-month period, OEM net sales improved 3.7% to $50.7 million. Q3 net sales for the MRO segment decreased 0.2% to $82.1 million. Nine-month MRO net sales dropped 1.4% to $241.8 million.
For the first nine months of 2003, overall net income remained unchanged at $12.3 million, and net sales slipped 0.6% to $292.5 million.
“Our efforts to expand (our) markets � have helped to stabilize and grow our revenues,� CEO Robert Washlow commented. �Those efforts, combined with continued cost controls, have produced improved results at Lawson during a difficult economic period.” Web: lawsonproducts.com �2003 FastenerNews.com
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