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Home » SunSource Q3 results

SunSource Q3 results

December 3, 2001
More about:  PT/Motion Control/Fluid Power
SunSource Inc., Philadelphia, PA, announced financial results for the three and nine months ended Sept. 30, 2001. Sales were $114.8 million in the third quarter of 2001 compared with $116.1 million in the same prior-year quarter. For the nine months ended September 30, 2001 and 2000, sales were $341.3 million compared with $360.1 million, respectively.


The company reported net income of $1.1 million in the third quarter of 2001 compared with a net loss before discontinued operations of $0.5 million in the same prior-year quarter. For the nine months ended Sept. 30, 2001, the company incurred a net loss of $1.3 million compared with net income before discontinued operations of $40.6 million for the nine months ended Sept. 30, 2000, including a pre-tax gain of $49.1 ...
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SunSource Inc., Philadelphia, PA, announced financial results for the three and nine months ended Sept. 30, 2001. Sales were $114.8 million in the third quarter of 2001 compared with $116.1 million in the same prior-year quarter. For the nine months ended September 30, 2001 and 2000, sales were $341.3 million compared with $360.1 million, respectively.


The company reported net income of $1.1 million in the third quarter of 2001 compared with a net loss before discontinued operations of $0.5 million in the same prior-year quarter. For the nine months ended Sept. 30, 2001, the company incurred a net loss of $1.3 million compared with net income before discontinued operations of $40.6 million for the nine months ended Sept. 30, 2000, including a pre-tax gain of $49.1 million on the divestment of a controlling interest in Kar Products.


SunSource was acquired by Allied Capital Corporation on September 26, 2001 pursuant to an Agreement and Plan of Merger dated June 18, 2001. The company survived the merger as an independently managed, privately held portfolio company of Allied Capital Corporation.
For additional financial information on SunSource, please reference the Company's report filed November 14, 2001 with the SEC on Form 10-Q for the quarter ended September 30, 2001.


SunSource Inc.'s principal business is comprised of The Hillman Group, Inc., including its Axxess Technologies operation, which sells to hardware stores, home centers, pet suppliers, mass merchants, and other retail outlets principally in the U.S., Canada, Mexico and South America. Their product line includes thousands of small parts such as fasteners and related hardware items, keys, key duplication systems, and identification items such as tags, letters, numbers, and signs. Services offered include design and installation of merchandising systems and maintenance of appropriate in-store inventory levels.



In addition, the Company's Kar Products affiliate distributes maintenance and repair parts and offers customized inventory management services to commercial and industrial customers of all sizes in the U.S. and Canada.
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