Sysco Corp., Houston, TX, reported sales for fiscal year end 2009 of $36.9 billion, down 1.8% from the prior year. Profit decreased 4.6% to $1.06 billion.
Fourth quarter sales were $9.1 billion, down 6.6% compared to the same period last year. Profit declined 5.6% to $315.3 ...
June U.S. manufacturing technology consumption totaled $135.85 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association. This total was up 22.0% from May but down 69.2% from the total of $440.55 million reported for June 2008. With a year-to-date total of $759.03 million, 2009 is down 70.1% compared with 2008.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
Despite the lack of government programs designed to specifically stimulate smaller manufacturers, the bottom to this business cycle may be in sight," according to Douglas K. Woods, president of AMT. "With total manufacturing technology orders showing positive ...
Canadian manufacturers experienced an increase in sales while U.S. manufacturers had a drop in sales in June 2009 according to sales data released by the Power Transmission Distributors Association. Confidence in the Canadian market (as measured on a scale of 1 to 10 with 10 being most optimistic) rose slightly by 0.1% from last month to 4.4, while U.S. confidence is holding at a current negative position of 4.8 for the third consecutive month.
U.S. manufacturers' sales fell by 2.8% in June 2009 when compared to May 2009. Sales in June 2009 fell 32.9% compared to the same period last year. Orders in June 2009 decreased by 5.3% over May 2009 orders.
Canadian manufacturers' sales increased 7.6% compared to May 2009. Sales were down 25.5% when compared to the same period last year. ...
The mergers and acquisitions market in distribution has changed dramatically in the past 24 months. While several deals were announced weekly in 2006 and 2007, the market flow today has slowed to a trickle. MDM spoke with distribution M&A experts about current conditions, and when they believe the market could turn around.
As difficult as it may be in current conditions, scenario planning has to be given more time in distribution executive team meetings, as well as distributor-manufacturer planning meetings. The worst reaction today is to say there is too much uncertainty to plan, so let's just focus on the next three months. The vast majority of conversations I've had with executives have often included the observation that revenues dropped by more than double what the company was using as its worst-case scenario. Based on second-quarter results, distributors are hoping the trough is behind them.
Border States Electric CEO Tammy Miller recently spoke with MDM Associate Editor Jenel Stelton-Holtmeier about how the electrical distributor is adapting to the current economy. In part II of this interview, she also addresses the company's plans for expansion by 2014. (Part I was published in the July 10, 2009, issue of MDM.)
A look at housing starts, permits and spending trends during the second quarter and first half of 2009.
UK-based Wolseley plc announced it would be continuing to cut costs across the company, as sales continued to decline. In its pre-close period trading statement for the 11 months ended June 30, revenues from continuing operations were down 1.5% to £13.25 billion (US$21.86 billion). Profit from continuing operations was down 47%. More
While average revenues were down 16% in the second quarter year-over-year, respondents to the second-quarter Baird Industrial Distribution Survey expect to see some improvement in the third quarter, with revenues down and average of 11.6% year-over-year. ...
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About this report: This is the MDM Public Distributor Report, provided on a quarterly basis to subscribers of Modern Distribution Management. The report is available online only.
Click here to download this report in pdf.
Not surprisingly, distributors continue to cut costs and work to improve efficiencies. Some are looking to new markets and expanding their reach to offset weaknesses in their traditional end-markets. In their quarterly earnings calls, distributors in diverse sectors say they have yet to see an increase in underlying demand in many end-markets. Here is a look at three distributors in different sectors and what they are seeing in the market.
Beacon Roofing ...
General Bearing Corp., West Nyack, NY, reported second-quarter sales of $41.3 million, a decrease of 40.3% from the prior year same period. Profit was $92,000, compared to $2.7 million a year ago.
For the six months ended July 4, 2009, sales were $21.5 million, down 38.7% from the first half of 2008. The manufacturer of bearings and bearing components recorded a loss of $180,000 for the term, compared to profit of $1.5 million the prior ...
Fluor Corp., Irving, TX, reported second quarter sales of $5.3 billion, down 8% from second quarter 2008. Profit declined 19% to $169 million.
For the first six months, sales were $11.1 billion, up 5% from the first half of 2008. Profit increased 8.5% to $374 million.
Fluor's Industrial & Infrastructure segment reported sales of $998 million, up 9% from the prior year. ...
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