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DXP Enterprises reported sales of $144.4 million in the second quarter 2009, a decrease of 23.1% from the prior-year period.
Sales by businesses acquired in 2008, on a same-store basis, accounted for $12 million of 2009 sales.
Excluding
these sales, sales fell 29.5% in the second quarter.
Profit was $2.16 million, down 31.7%.
Sales for
the six months ended June 30, 2009, fell 15.2% to $302 million from the prior-year period. Profit was $5.3 million.
Excluding first-half 2009 sales of $26.2 million by the businesses acquired in 2008, sales decreased 22.6% from the first
half of 2008.
CFO Mac McConnell said: "Economic conditions for the oil and gas and industrial manufacturing
industries have proven to be more severe than anticipated. … We will continue to aggressively manage our costs and
position ourselves to take advantage of opportunities when the economy begins to recover."
DXP provides pumping
solutions, supply chain services and MROP (maintenance, repair, operating and production) services, and distributes pumps,
bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.
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