Interline Brands, Inc. (NYSE: IBI), Jacksonville, FL, reported sales in the first quarter were $313.6 million, up 5.4 percent over the same period a year ago. On an organic basis, sales increased 4.3 percent.
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Profit increased 8.7 percent to $7.5 million.
The facilities maintenance end-market, which comprised 76 percent of sales, increased 7.8 percent during the first quarter, and 6.2 percent on an organic basis. The professional contractor end-market, which comprised 14 percent of sales, increased 2.5 percent for the quarter. The specialty distributor end-market, which comprised 10 percent of sales, decreased 5.4 percent for the quarter.
"The multi-family market continues to show signs of strength, and we are well positioned for growth with a broad and compelling product, technology and service offering. In the institutional market, we are localizing even more inventory and leveraging our recent new sales hires to expand customer relationships and offer a broader product bundle across our market-leading brands. Operationally, we are also beginning to see the benefits of scale within our cost structure as our growth rate increases," said Kenneth D. Sweder, Interline's president and COO.
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