Lawson OEM Sales Increase
May 04
00:00
2006
Lawson OEM Sales Increase
Lawson Products Inc. reported net sales for the first quarter of 2006 increased 25% to $131.9 million, while operating income climbed 18% to $9.9 million. Net income remained flat at $5 million. Q1 results include the operations of Rutland Tool & Supply Co., acquired in December 2005. Rutland contributed $15 million in revenue and $1 million in operating income in the first quarter 2006.
All of Lawson’s businesses showed sales improvements in Q1, including a 24% sales increase for its OEM segment.
“Sales productivity and operating efficiency initiatives resulted in a quarter of growth for our businesses,” stated CEO Robert Washlow. Web: lawsonprod.com �2006 FastenerNews.com
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