Interline Brands Inc., Jacksonville, FL, (NYSE:IBI) distributor and direct marketer of maintenance, repair and operations products and No. 14 on MDM's list of the top 40 industrial distributors, reported sales for the second quarter ended July 1, 2011, were $317.7 million, a 17.6 percent increase from the prior-year period.
Deliver Distribution News to Your Inbox
Sign up below to receive
MDM Update, your free weekly distribution news update by email.
Interline's facilities maintenance end-market, which comprised 77 percent of sales, increased 24.9 percent during the second quarter, and 3.7 percent on an average organic daily sales basis. The professional contractor end-market, which comprised 13 percent of sales, decreased 0.3 percent for the quarter. The specialty distributor end-market, which comprised 10 percent of sales, decreased 3.3 percent for the quarter.
Not including the acquisitions of CleanSource and Northern Colorado Paper, average organic daily sales increased 2.2 percent for the quarter.
Profit for the quarter was $9.8 million.
"We continue to be encouraged by the trends within the institutional and multi-family facilities maintenance end-markets, though our large customers remain focused on cost control. In addition, our recent acquisitions in the jan-san space are contributing to our growth and broadening our reach in underpenetrated markets and geographies," said CEO Michael J. Grebe.
Sales for the six months ended July 1, 2011 were $615.1 million, a 19.3 percent increase over the prior-year period. Not including the acquisitions of CleanSource and NCP, average organic daily sales increased 3.2 percent for the six months ended July 1, 2011.
Profit for the first half was $16.7 million.
Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.
Download the Top 40 Industrial Distributor List
Get the Top 40 Industrial Distributors list in PDF, and you will be signed up to receive MDM Update, your free daily distribution news update by email.