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Sales for 2009 were $583.2 million, a decrease of 20.9% from 2008. Full year net loss was $42.4 million, compared to year ago profit of $25.9 million.
"In connection with the severe economic recession, we incurred an impairment of goodwill and other intangibles. In converting Precision to our IT system we discovered old and slow moving inventory. In addition to these non-cash events, we incurred restructuring and other one-time charges," said CEO David R. Little. "We feel good about our future and we are excited about our new potential acquisition."
In February, DXP entered into a non-binding letter of intent to acquire Phoenix, AZ-based Quadna, a supplier of fluid handling systems.
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| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
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| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
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