The 2020 Mid-Year Economic Update_long

Day: August 2, 2007

IDG Sales Fall in 2Q

Industrial Distribution Group, Inc., Atlanta, GA, reported second-quarter sales were $132.6 million, down from $137 million in the same period a year ago. Profit was $0.1 million.
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For the six months ended June 30, 2007, sales were $267.7 million, compared with $277.3 million in the same period a year ago. Profit was $1.5 million, about half the profit of a year ago.
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For the second quarter of 2007, revenues from Flexible Procurement Solutions, IDG's integrated supply business, were $81.8 million, an increase of 1.7%. Revenue from FPS comprised 61.7% of IDG's total sales for the second quarter of 2007 compared to 58.7% for the comparable period of 2006.
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Year-to-date 2007, FPS revenues increased $1.9 million or 1.2%. At June 30, 2007, the company ...

Report: Rexel Has 30 Potential Acquisitions in Sight

Forbes is reporting that Rexel Chairman Jean-Charles Pauze said in the electrical distributor's second-quarter conference call that the company has 30 potential acquisitions in its sights, with total revenues of 1 billion euro.
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The list of potential acquisitions are weighted toward emerging markets.
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Thanks to acquisitions, Rexel's second-quarter rose nearly 30% to US$3.73 billion (2.729 billion euros). Organic growth was 3.3%.

Sales in the first half of 2007 were up 30% to US$7.3 billion (5.3 billion euros). Organic growth was 4.5%.

Strong sales in Europe and Asia-Pacific more than offset the slowdown in North America," Pauze said in a release.

By region:

  • Asia-Pacific: ...

Barnes Distribution Sales Up Slightly

Barnes Group Inc., Bristol, CT, reported sales increased 16% to $360 million in the second quarter ended June 30, 2007. Profit was up 58%.

Sales at Barnes Aerospace were $92.4 million in the second quarter 2007, up 25% as original equipment manufacturer sales of $62.3 million grew 21% and aftermarket sales of $30.1 million were up 36%.
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Sales at Barnes Distribution were $150.7 million in the second quarter of 2007, up 20%, including $22.2 million of incremental sales from the KENT acquisition and organic sales growth of $1.3 million. The modest increase in organic sales is primarily a result of Corporate and Tier II account sales increases of 10% and 24%, respectively. Operating income at Barnes Distribution was $7.5 million in the second quarter, down 16% from ...

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