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For the fourth quarter, sales were $173.8 million, up 7.7 percent in a year-over-year comparison. Profit increased 92.7 percent to $4.1 million. Organic sales volume remained under pressure and declined in the 2011 fourth quarter.
"While we were successful in instituting price increases in our sales and service channel, the benefits of price increases we initiated in the retail and distribution channels were not enough to mitigate higher raw materials costs to the extent we had envisioned," said John K. Morgan, president and CEO. "We expect our gross margin rate to improve sequentially from the fourth quarter of fiscal 2011. However, we expect this rate to continue to be negatively impacted by an imbalance in pricing relative to commodity inflation."
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| 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 |
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