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Interline Brands Inc. (NYSE:IBI), Jacksonville, FL, distributor and direct marketer of MRO products and No. 14 on MDM's list of the top 40 industrial distributors, reported sales for the third quarter ended Sept. 30, 2011, were $331.3 million, a 19.7 percent increase from the prior-year period.
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Organic sales growth was 3.7 percent.
Interline's facilities maintenance end-market, which comprised 77 percent of sales, increased 25.6 percent during the third quarter, and 3.5 percent on an organic basis. The professional contractor end-market, which comprised 13 percent of sales, increased 6.6 percent for the quarter. The specialty distributor end-market, which comprised 10 percent of sales, increased 0.5 percent for the quarter.
Profit for the quarter was $12.4 million.
"Our measured investments in additional sales professionals, key operations and technology initiatives, and recent acquisitions are improving our national and integrated MRO selling platform. While we will continue to adjust our plans as macro-economic conditions warrant, we are convinced these initiatives will position Interline for long-term revenue growth and enhanced profitability," said Kenneth D. Sweder, Interline's President and COO.
Sales for the nine months ended Sept. 30, 2011 were $946.4 million, a 19.5 percent increase over sales of $792.2 million in the comparable 2010 period. Not including the acquisitions of CleanSource and NCP, average organic daily sales increased 3.3 percent for the nine months ended September 30, 2011.
Profit for the first nine months was $29.1 million.
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