Lawson Products Inc. (NASDAQ: LAWS), Chicago, IL, reported third-quarter sales of $70.2 million, flat compared to the prior year. Profit decreased 25 percent to $1.8 million.
“Our sales and profitability improved sequentially over the second quarter, but continued to be negatively affected by the ongoing slower industrial activity impacting the MRO marketplace and the decreased demand from the oil and gas industry,” said Michael DeCata, president and CEO.
For the first nine months, sales were $209.3 million, down 0.8 percent year-over-year. Profit was $3 million, down 24.4 percent.
