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In The News:

Interline Brands Sales Up 17.6% in Second Quarter

August 5, 2011
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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.

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.

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