 |
Lock in savings now before June 1 rate increase! |
 |
| We
Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
For the first six months, sales were $646.7 million, up 15.5 percent in a year-over-year comparison. Profit grew 55 percent to $41.4 million.
The Logistics and Manufacturing Services segment recorded sales of $155.3 million in the second quarter of 2011, up 12 percent from last year's second quarter. This segment achieved $11.6 million of organic sales growth primarily from aerospace aftermarket and North American distribution businesses. Foreign currency translation positively affected second quarter 2011 net sales by approximately $5.2 million.
Operating profit at Logistics and Manufacturing Services increased 65 percent to $16.8 million. The increase in profitability was positively impacted by higher sales, improved customer sales mix and further productivity improvements in the North American distribution businesses.
The Precision Components segment recorded sales of $175.8 million in the second quarter of 2011, a 20 percent increase from last year's second quarter. Organic sales grew $21.0 million in the quarter as a result of increases in the North American and European industrial manufacturing businesses and from better performance in the transportation industry, including automotive. Net sales in the aerospace OEM business also achieved double-digit growth. Foreign currency translation positively affected second quarter 2011 net sales by approximately $8.2 million.
Operating profit at Precision Components was $16.7 million, an increase of 24 percent. The operating profit improvement resulted from the beneficial impact of higher sales levels combined with lower cost structures resulting from previous actions and lean initiatives.
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment