 |
Lock in savings now before June 1 rate increase! |
 |
Thomas & Betts Corp. (NYSE:TNB), Memphis, TN, reported third quarter 2011 sales of $604.4 million, up 16.6 percent compared to 2010 including $23.2 million in sales from acquisitions.
| We
Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
Excluding acquisitions, year-over-year sales increased over 12 percent. Increased volumes in the Electrical and HVAC segments and increased pricing across all segments accounted for approximately 9 percent of the sales growth.
Profit from continuing operations was up 32 percent in the third quarter to $54.3 million.
Electrical segment sales increased 14 percent year-over-year to $500.7 million in the quarter. Excluding acquisition and foreign currency impacts, sales rose nearly 8 percent driven by increased demand in our industrial, construction and utility end markets and commodity-related price increases. A prior-year acquisition contributed slightly more than 2 percent of the sales growth with the balance attributable to favorable foreign currency.
Third quarter Steel Structures segment sales were $66.9 million, up 16.9 percent year over year largely as a result of commodity-related price increases. Segment earnings were $10.5 million or 15.7 percent of sales, in line with expectations, but lower than 2010 as a result of a more competitive pricing environment.
HVAC segment sales were $36.8 million in the quarter compared to $21.8 million last year. The current quarter acquisition of the AmbiRad Group, a privately held U.K. manufacturer of specialty HVAC products, contributed $11.8 million to year-over-year sales growth. Excluding the AmbiRad acquisition, HVAC sales increased nearly 15 percent on improved volumes and favorable foreign currency.
 |
 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