Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for its third quarter of $124.6 million, down 2.6% from the prior year quarter. Profit was $3.1 million, up 28.3% from the third quarter of 2007.
The decline in sales for the third quarter resulted from lower sales in the MRO business, while profit was impacted by increased product and commodity costs.
For the nine months ended Sept. 30, 2008, sales declined 2.8% $375.9 million, as compared to sales for the same period the prior year. Year-to-date, the company recorded a loss of $22.2 million.
Charges of $31.6 million and $4.9 million related to the settlement announced in August of the investigation of the company …
Lawson Products Sales Drop 2.6% for 3Q
Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for its third quarter of $124.6 million, down 2.6% from the prior year quarter. Profit was $3.1 million, up 28.3% from the third quarter of 2007.
The decline in sales for the third quarter resulted from lower sales in the MRO business, while profit was impacted by increased product and commodity costs.
For the nine months ended Sept. 30, 2008, sales declined 2.8% $375.9 million, as compared to sales for the same period the prior year. Year-to-date, the company recorded a loss of $22.2 million.
Charges of $31.6 million and $4.9 million related to the settlement announced in August of the investigation of the company …
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