Economic activity in the manufacturing sector expanded in April for the fifth consecutive month, say the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business. ISM’s New Orders Index registered 52.3 percent in April, an increase of 0.9 percentage point when compared to the March reading of 51.4 percent.
Revenues for the first quarter of 2013 were $5.31 billion, a decrease of seven percent from the...
Net earnings for the quarter increased 13 percent to $212 million versus $188 ...
The company continued its portfolio realignment process by announcing plans to sell its Asia-based Die-Cut business which was outlined in a separate press release on May 16, 2013. Accordingly, the company has recast its financial statements to report the financial results of the Die-Cut business on one line item in the accompanying condensed consolidated statements of income.
The board also approved and authorized the company to purchase an additional $100 million of its common stock. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions.
The increase in sales was mainly due to the increase in sales of steel plates and steel wires, offset by the decrease in sales of steel billets and the decrease in unit sales price in the three months ended March 31, 2013. The average unit sales price was $501 per ton, a decrease of $70, or 12%, compared to $571 per ton in the comparable period of 2012.
The company’s net loss for the first quarter of 2013 was $2.8 million, or $0.02 per share, compared to a net loss of $1.2 million, or $0.01 per share, reported for the first quarter of 2012. Comparatively, the 2013 quarterly results include a $1.5 million (or $0.01 per share) non-cash charge related to the company’s common stock warrant liability.
The 1Q13 PTDA Business Index produced a reading of 61.1, which represents a substantial increase over last quarter’s reading of 50.7. This indicates that the power transmission/motion control (PT/MC) industry expanded for the 12th consecutive quarter at a slightly faster pace compared with 4Q12.
Edgen Group Inc. a leading global distributor of specialized products including steel pipe, valves, plate, and related components to the energy sector and industrial infrastructure markets, today reported its financial results for the three months ended March 31, 2013.
Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported that net sales for the first three months of 2013 were $1.3 billion, an increase of 0.2 percent compared to the same period last year.
Daily sales increased 8 percent versus April 2012, and included 3 percentage points from volume, 2 percentage points from price, 2 percentage points from acquisitions and 2 percentage points from the timing of the Easter holiday, partially offset by a 1 percentage point decline from foreign exchange.
Total sales increased 5.3% to $416.3 million in 2013 from $395.2 million in 2012. Existing market (organic) sales, which exclude branches acquired after the beginning of last year’s second quarter, declined 5.1%. The 2013 sales performance was unfavorably affected by adverse weather conditions this year, especially compared to last year’s mild weather that boosted sales during the normal slow Winter period.
The company just missed its sales target of EUR 10 billion, yet achieved a sales record with a reported total of EUR 9.98 billion. In its core business, the trade in assembly and fastening material for the craft and industry sector, the Würth Group grew by 3.7 percent to a total of EUR 5.5 billion in 2012. The industry sector, recording a plus of 12.3 percent, clearly contrasts with the rest.
“Expansion of eCommerce is fueling demand for big-box distribution centers in major distribution hubs, and has triggered an increase in both build-to-suit and speculative development,” noted Cushman & Wakefield’s John Morris, leader of Industrial Services for the Americas. “This wave will continue due to an undersupply of Class A space.”
Industrial Distribution's May/June 2013 issue focuses on the results of our 66th Annual Survey of Distributor Operations. Taking an in-depth look at what distributors themselves are saying, the issue discusses trends and the economy, employment, technology usage, keeping the balance sheet balanced, what distributors view as best practices and where their value lies in today's changing economy.
Sales for the quarter ended March 29, 2013 were $380.8 million, a 21.4% increase compared to sales of $313.6 million for the quarter ended March 30, 2012. On an average organic daily sales basis, sales increased 3.5% for the quarter. Sales to our institutional facilities customers, comprising 52% of sales, increased 50.3% for the quarter, and 5.0% on an average organic daily sales basis.
Fastenal Company released the numbers for their April sales month, noting that net sales rose 9.8% year over year. Net sales in April of 2013 were $286,622 (Dollar amounts in thousands), up from261,093 in the same month of 2012. The daily sales were $13,028, up 4.8% from 12,433 in 2012.
AD Industrial sales grew 4% in the first quarter of 2013 on a same store basis from $1.35B to $1.40B. Sales for all AD Affiliates, across all AD Divisions, grew by 5% in the first quarter to $6.5 billion. AD Affiliates outgrew their markets in every AD Division in the quarter.
Fourth quarter earnings per diluted share were $1.13, up 1% over prior year earnings per diluted share of $1.12. Excluding a $0.01 restructuring charge, adjusted earnings per diluted share* were $1.14, an increase of 3% over prior year adjusted earnings per diluted share* of $1.11.
Net sales for the third quarter increased 2.7% to $621.7 million from $605.5 million in the comparable period a year ago. Net income for the quarter was $29.3 million, or $0.69 per share, essentially flat compared with the third quarter of 2012.
Rexel recorded sales of €3,153.9 million, down 2.3% on a reported basis and down 3.7% on a constant and same-day basis. Excluding the negative impact due to the change in copper-based cable prices, sales were down 3.1% on a constant and same-day basis.
The Regal Beloit Corporation is reporting net sales for the first quarter 2013 were $778.2 million compared to $807.9 million for the first quarter of 2012, a decrease of 3.7 percent. Net Income for the first quarter 2013 was $50.7 million compared to $49.9 million for the first quarter of 2012.
CEO Keating: "Distribution faced a decline in organic sales which resulted in its operating profit contribution coming in below prior year." Sales increased 1.8% in the first quarter of 2013 to $257.2 million compared to $252.6 million a year ago for the distribution segment.
The company on Friday reported net income after paying preferred dividends of $45.7 million, or 93 cents per share, down from $54.8 million, or $1.08 per share, in the same quarter of 2012. Excluding restructuring costs and other one-time items, the company said it posted an adjusted profit of $1.06 per share. Revenue fell 15 percent to $513.5 million from $604.4 million.
Stanley Black & Decker's first-quarter earnings sank 33 percent as the hardware and home-improvement business booked heavier charges tied to mergers and acquisitions. It said a cold start to spring and a sluggish European performance restrained revenue growth.
3M said Thursday its first-quarter profit barely rose as it faced weaker demand. It cut its profit guidance for the full year. 3M's Scotch tape and construction and safety materials make it a good window into the broader economy. It has operations all over the world, so a stronger dollar hurt its revenue because many of its goods are sold in other currencies.
The decline reflects lower demand across most of the company's end markets led by oil and gas, industrial distribution and off-highway market sectors, partially offset by acquisitions and improved pricing. In addition, steel surcharges declined $72 million from the prior-year quarter.
Net sales for the first quarter of 2013 decreased 5.2% to $72.0 million versus $76.0 million for the first quarter of 2012. The decrease was mainly driven by reduced sales coverage due to an 11% decline in the average number of sales representatives in the first quarter of 2013 compared to the prior year period.