Industrial Distribution Group 1Q Sales Down 5.7%
Atlanta, GA-based Industrial Distribution Group, Inc. reported first-quarter revenues of $127.3 million, compared with $135.1 million in the year-ago period, a decline of 5.7%. Profit was $0.9 million, compared with $1.5 million last year.
For the first quarter, revenues from Flexible Procurement Solutions, IDG's services-based supply offerings that include storeroom management, were $78.6 million, a decline of $2.5 million or 3% compared to the first quarter 2007.
New sites implemented since the first quarter of 2007 generated incremental revenue in the first quarter of 2008; however, these new site revenues were more than offset by the non-renewal of certain sites in the fourth quarter of 2007, for which the company said it did not seek renewal because of ...
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