Industrial Distribution Group Inc., Atlanta, GA, reported sales in the first quarter 2007 were $135.1 million, down 3.7% from the same period a year ago. Profit was $1.5 million, equal to a year ago.
For the first quarter, revenues from Flexible Procurement Solutions, IDG's integrated supply offering including storeroom management, were $81.1 million, an increase of 0.7% from the first quarter 2006. FPS revenues were 60% of total first-quarter revenues as compared with the 57.4% reported in first quarter 2006.
As of March 31, 2007, the company had 336 total FPS sites, including 100 storeroom management arrangements. New FPS customers generated incremental revenue of $9.1 million for the first quarter of 2007, partially offset by a continued decline in ...