R&B Sales & Profit Surge
April 30
00:00
2004
R&B Sales & Profit Surge
Jason Sandefur
Sales for automotive OEM and fastener supplier R&B Inc. grew 11% to $56 million for the first quarter of 2004, while net income jumped 50% to $3.3 million. CEO Richard Berman predicted sales would remain strong throughout the year, though profit was not likely to increase as dramatically as it did during Q1.
“Our strong first quarter sales growth reflects the continued success of our new products.””
Q1 sales volume was influenced by shipments to a new customer for R&B”s Pik-A-Nut home hardware business, Berman noted. Web: rbinc.com �2004 FastenerNews.com
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