Chicago-based Lawson Products Inc. (NASDAQ: LAWS), No. 27 on MDM’s list of the top 40 industrial distributors, reported sales for the third quarter of $72 million, a decrease of 4.5 percent from the same period a year ago. The distributor reported a loss of $1.3 million for the quarter, compared to a year-ago loss of $2.2 million.
Download a Free Chapter:
The Little Black Book of Strategic Planning for Distributors
Submit your email address below to receive a chapter of Brent Grover's new book. When you submit your email you will be signed up to receive weekly distribution news updates.
For the first nine months, sales were $222.3 million, 8.2 percent lower than 2011 levels. Nine-month losses were $64.3 million, compared to a profit of $923,000 for the first three quarters of 2011.
“Third quarter results show an improvement from where the company was just a quarter ago. In the coming quarters, we will renew our emphasis on improving sales by building upon productivity enhancements, utilizing our new ERP system as our foundation for growth and restoring our sales force to a more effective level,” Michael G. DeCata, president and CEO, said.
DeCata joined Lawson in his new role October 1. He previously served as president of Chef’s Warehouse, a $300 million specialty food distributor and has also held senior positions at United Rentals, Grainger and General Electric.
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 Free
Get the Top 40 Industrial Distributors list in PDF, and you will be signed up below to receive MDM Update, your free daily distribution news update by email.