Lawson Reports Record Sales
Lawson Reports Record Sales
Jason Sandefur
Lawson Products Inc. reported a 9.9% increase in sales to a record $450.2 million during 2005, while operating income gained 10% to $35.4 million. Full-year net income grew 25% to $26.74 million.
Sales for the fourth quarter of 2005 improved 9.7% to $115.6 million, which included a $4 million contribution from the late Q4 acquisition of Rutland Tool & Supply Co. Q4 operating income grew 25% to $6.2 million. Q4 performance excluded results from the company’s UK division, which was closed during the period.
“Increased productivity of our sales forces together with improved pricing management capability throughout the year 2005 resulted in accelerated sales growth to the double-digit percentage level for the year,” noted CEO Robert Washlow.
Washlow said Lawson faced “substantially increased expenditures in both information technology and marketing initiatives” during the year, along with improvements in product cost controls. Web: lawsonproducts.com �2006 FastenerNews.com
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