July 17, 2008

Supply Chain Equity Partners Acquires Cone Instruments

Finance, Free, Mergers & Acquisitions, News, Nondurable Products Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Supply Chain Equity Partners has acquired Cone Instruments, a catalog distributor of diagnostic imaging supplies and accessories.

Supply Chain Equity Partners is the perfect investor to help us further grow our business organically and through acquisitions of catalogers and distributors serving the healthcare industry,” Patrick C. Beck, president and CEO of Cone Instruments, said.

Cone Instruments, Solon, OH, is a one-stop-shop distributor of Ultrasound, Radiology and Nuclear Medicine products and supplies serving 7,000 hospitals, imaging centers and doctors’ offices each year. Cone offers more than 6,000 items worldwide through its catalogs, direct sales force and the Internet.

Based in Cleveland, OH, Supply Chain Equity Partners is a private …

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Motion Industries Sales Up 7% in 2Q

Companies, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Genuine Parts Company, Atlanta, GA, reported sales of $2.87 billion for the second quarter ended June 30, 2008, up 4% from the prior-year period. Profit for the quarter was $133.1 million, up 2%.

EIS, the Electrical Group, recorded sales growth of 11% for the quarter. Motion Industries saw a sales jump of 7%. And the Automotive Group reported a 2% sales increase. S.P. Richards, the Office Products Group, reported flat sales relative to the second quarter last year.

For the first six months, sales were $5.61 billion, up 4% from the same period in 2007. Profit was $256.6 million, an increase of …

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Illinois Tool Works Sales Grow 10.5% in 2Q

Companies, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Illinois Tool Works Inc., Glenview, IL, reported revenues grew 10.5% to $4.57 billion in the second quarter 2008. The increase is attributable to a 4.3% contribution from acquisitions and a 6.4% contribution for currency translation.

Overall base revenues were flat in the second quarter, with international base revenues growing 3% and North American base revenues declining 2%. Income from continuing operations increased 10% to $528.5 million.

By Sector
Worldwide base revenues for the Power Systems and Electronics segment grew 7.7%, with an 8.9% increase in welding base revenues and a 6.9% increase in base revenues for PC board fabrication.

Base revenues for the Polymers and Fluids segment increased 2.3% in the quarter, with North American …

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Reliance Steel & Aluminum Sales, Profit Grow in 2Q

Free, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Reliance Steel &Aluminum Co., Los Angeles, CA, reported sales in the second quarter 2008 were $2.1 billion, an increase of 10.5% over the same period in 2007. Profit increased 27.5% to $156.6 million.

For the first six months ended June 30, 2008, sales were $4 billion, and increase of 7.1% over the prior-year period. Profits increased 12.6% to $264 million.

David H. Hannah, CEO of Reliance said: The main reason for the increased earnings was higher carbon steel prices, which resulted in higher gross profit margins as we quickly passed through the increases to our customers. While we expected carbon steel pricing to continue upwards during the second quarter, the increases were larger than we had anticipated.”

In the third quarter, Hannah expects …

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Watsco Sales Up 8% in 2Q

Companies, Free, HVACR, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Watsco, Inc., Coconut Grove, FL, reported revenues for the second quarter increased 8% to $510 million over the same period in 2007. Profit improved 7% to $26.1 million.

The revenue increase includes $62 million from 58 locations opened or acquired in the past 12 months.

Same-store sales declined 5%, reflecting a 4% decrease in sales of HVAC equipment, an 8% decline in other HVAC products and a 1% increase in commercial refrigeration products.

For the six months ended June 30, 2008, revenues increased 6% to $890 million, including $111 million from locations opened or acquired during the last 12 months. Gross profit for the period increased 7% to $229 million. Same-store sales declined 7% in the first six months.

Watsco is an …

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SKF Sales Up 7.4% in 2Q

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

SKF reported sales increased 7.4% to SEK16.1 billion (US$2.7 billion) for the second quarter of 2008. Sales for the first six months were up 8% to SEK31.7 billion (US$5.3 billion).

Profit was SEK1.4 billion (US$233 million). For the first six months, profit totaled SEK 2.7 billion (US$450 million).

The sales increase for the quarter was attributable to: volume, 6.2%; structure, 1.3%; price and mix, 4%; and currency effects, -4.1%. For the first six months, volume attributed 5.6%; structure, 1.2%; price and mix, 3.9%; and currency effects, -2.7%.

Sales were significantly higher in Europe, Asia and Latin America. Sales in North America were relatively unchanged. Manufacturing level for the quarter was slightly higher that the first quarter …

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Forecast: Manufacturing Sector Will Face ‘Significant Challenges’ in Near-Term

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

Mirroring the downturn in the overall U.S. economy, the manufacturing sector is expected to face significant challenges in the near-term according to the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook, an indicator for the industrial sector. The June 2008 composite index registered a drop to 50 from 57 as reported in the March 2008.

At this level, the index indicates that overall manufacturing activity is expected to remain flat over the next three to six months. It should be noted, however, that the index measures the direction of change rather than the absolute strength of activity in manufacturing.

While a variety of individual indexes is included in the survey, the business outlook index is a weighted sum of the …

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July 17, 2008

Supply Chain Equity Partners Acquires Cone Instruments

Motion Industries Sales Up 7% in 2Q

Illinois Tool Works Sales Grow 10.5% in 2Q

Reliance Steel & Aluminum Sales, Profit Grow in 2Q

Watsco Sales Up 8% in 2Q

SKF Sales Up 7.4% in 2Q

Forecast: Manufacturing Sector Will Face ‘Significant Challenges’ in Near-Term

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