Lawson OEM Sales Rise
July 18
00:00
2003
Lawson OEM Sales Rise
Jason Sandefur
Lawson Products reported OEM sales for the second quarter of 2003 rose 1.8% to $16.9 million, while Q2 MRO sales slipped 3.7% to $80.2 million. For the first six months of 2003, OEM sales grew 2.6% to $33.5 million, and MRO sales fell 2% to $159.7 million.
Overall Q2 net sales dropped 2.8% to $97.1 million, while net income declined 11.8% to $4.1 million. Lawson CEO Robert Washlow said results for the Des Plaines, IL-based supplier were impacted by �challenging� domestic markets.
For the first half of 2003, net income decreased 7.4% to $7.9 million on sales of $193.2 million, a 1.3% decline. Web: lawsonproducts.com �2003 FastenerNews.com
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