SubscribeLoginCustomer Service


ADVANCED SEARCH
Log In
Home
Blog
Free Samples
Conferences
Research
Databank
Current Issue
Archives
READER'S CHOICE
Most Popular Stories
• A Few Bright Spots in Economic Picture
• ERIKS Group to Divest Part of French Operations
• One Distributor's Experience in Greening Its Warehouse
• Latin America Manufacturing Production Growth to Slow
• Purvis Industries Buys Bearing Belt Chain
HOME
ABOUT MDM
CONTACT US
CUSTOMER SERVICE
Copyright © 2009
Gale Media, Inc.
All Rights Reserved.
E-Mail This Article
Printer-Friendly Version
Microsoft
Untitled Document

Enter your email address below to receive our FREE weekly email, MDM Advisor, with industry news, trends and analysis for wholesale distribution executives.

August 18, 2008

Five Star Products Sales Down 12.5% in 2Q

Five Star Products, Inc., New York, NY, distributor of paint sundry and hardware products in the Northeast and Middle-Atlantic states, reported revenue for the three months ended June 30, 2008, were down 12.5% to $31.4 million. Profit was $98,000, compared with profit of $567,000 in the prior-year period.
 
The distributor reported sales of $62.9 million for the first six months of 2008, a 4.4% decrease. The net loss was $609,000.
 
John Belknap, Five Star CEO, said: “Challenging market conditions in our industry obviously have impacted Five Star’s second quarter. Neither Five Star nor its customers are immune from negative economic factors affecting, in particular, the housing and home improvement industries.”
 
As previously announced, National Patent Development Corp., which owns 82% of Five Star, and NPDV Acquisition Corp., a subsidiary of National Patent, have agreed to buy all outstanding shares of Five Star's common stock.
 
Five Star Products, Inc. distributes products to 3,000 independent retail dealers, which include paint stores, independent hardware stores, lumber yards, and do-it yourself centers. The Company distributes a range of private label products sold under the "Five Star" name.

More Breaking News

  • Pelican Advanced Area Lighting, Lighting Technology of Another Kind
  • Microsoft Dynamics® Case Study: A Platform for Aggressive Growth
  • Infor's Distribution Success Stories: Secrets from Enterprising Distributors
  • Benchmark Your Inventory Management
  • Click here to download this IBM Executive Information Kit

    • HOME PRIVACY COPYRIGHT SUBSCRIBE

    GALE MEDIA OUR PRODUCTS ADVERTISING