Global Industrial's 6-Month Sales Improve, Helped By PEG Acquisition

Port Washington, NY-based Global Industrial posted its 26th consecutive quarter of year-over-year sales growth in Q2.

Id 20411 Global Industriala
Id 20406 Global Industrial

Industrial and technology products group Systemax reported its 2016 second quarter fiscal performance on Tuesday, showing that six-month sales at its industrial subsidiary — Global Industrial — are up 3.7 percent from a year earlier.

Port Washington, NY-based Global Industrial's sales for the first half of 2016 were $352.4 million, with the increase helped by the company's recent acquisition of Milwaukee-based Plant Equipment Group. Excluding that acquisition, Global's sales were up 2.1 percent.

In the Q2 period, Global's sales increased 0.5 percent year-over-year to $181.8 million.

"Industrial extended its revenue growth streak to 26 consecutive quarters despite a soft North American MRO market, improved efficiencies in its distribution network and implemented a cost-reduction initiative which will lower its annual cost structure by approximately $4 million," said Larry Reinhold, CEO of Systemax.