DXP Enterprises Inc. (NASDAQ: DXPE), Houston, TX, reported sales for 2014 of $1.5 billion, an increase of 20.8 percent compared to the same period a year ago. The company reported a net loss of $45.2 million, down from a profit of $60.2 million in 2013.
DXP attributed the sales growth to two strategic acquisitions – B27 and Machinery Tooling & Supply – which helped grow the rotating equipment and metal working divisions. Total employees for the fiscal year increased 16 percent to 3,715.
DXP's innovative pumping solutions posted a 66.4 percent sales growth, driven primarily from the acquisition of B27. Service centers sales grew 11.6 percent, followed by supply chain services, which grew 11.2 percent.
The company reported sales for the fourth quarter of $382.5 million, an increase of 21.9 percent compared to the same period a year ago. The company reported a net loss of $88.1 million, down from a profit of $16.9 million in 2013.
