Essendant sales fall 3.3 percent in fourth quarter
Essendant reported net sales of $1.25 billion for the fourth quarter, down 3.3 percent from $1.3 billion in the same period last year.
Sales in the industrial supplies category, which includes ORS Nasco, decreased by 2.6 percent to $138.4 million.
The company had a loss of $2.4 million for the quarter, or a loss of 6 cents per share, compared to a loss of $95.8 million, or $2.61 per share, in the same period last year.
Sales for the year were $5.37 billion, down 0.1 percent from $5.36 billion in 2015. For the year, net income of $63.9 million, or $1.73 per share, compared to a loss of $44.3 million, or a loss of $1.18 in the previous year.
For 2017, Essandant expects sales to be flat to down 4 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
