DES PLAINES, Ill. -- Lawson Products, Inc., a distributor of products and services to the MRO marketplace, announced third quarter results today.
-- Net sales of $75.4 million for the quarter
-- Operating loss of $3.1 million for the quarter
-- Enterprise Resource Planning ("ERP") system conversion during the third quarter
-- As of September 30, 2011 cash-on-hand was $19.3 million with no debt outstanding
-- $55.0 million credit facility extended for five years with more favorable terms
"During the third quarter, we achieved a major milestone in the transformation of our business. In August 2011, we successfully went live with a major phase of our ERP system that will provide Lawson with the right platform to realize its goal of generating sustainable, profitable long-term growth," commented Thomas Neri, president and chief executive officer. "While our third quarter financial performance was temporarily impacted by the conversion to the new ERP system, we are already seeing signs that it will provide us with the important tools to manage the business and enhance our customers' experience," concluded Mr. Neri.
