DXP posts 19.9 percent sales gain
DXP Enterprises reported first-quarter sales increased 19.9 percent to $285.9 million, compared to $238.5 million for the first quarter of 2017.
Net income of $4.5 million, or 24 cents per share, compared to net income of $3.1 million, or 17 cents, in the same period last year.
Service Centers’ revenue for the first quarter was $175.4 million, an increase of 17.9 percent year-over-year with a 9.0 percent operating income margin. Organic sales increased 10.8 percent year-over-year.
Innovative Pumping Solutions’ revenue for the first quarter was $67.6 million, an increase of 37.9 percent year-over-year with a 9.4 percent operating income margin.
Supply Chain Services’ revenue for the first quarter was $42.9 million, an increase of 5.3 percent year-over-year with a 9.4 percent operating margin.