Lawson Products Inc. (NASDAQ:LAWS), Chicago, IL, reported sales for the first quarter of $69.9 million, an increase of 1 percent from the previous year, with average daily sales also up 1 percent. The MRO distributor reported a loss for the first quarter of $1.4 million, compared to a loss of $3 million for the same period a year ago.
"Sales were affected by weaker demand in the energy sector and the declining exchange rate of the Canadian dollar," said Michael DeCata, president and CEO. "Nonetheless, we posted an increase in net sales during the first quarter largely due to our Kent Automotive business."
