Sales for the first half of 2015 reached $16.7 billion.
Day: August 5, 2015
Acquisition expands company's presence in Virginia.
Neil Friedlander named new vice president of operations.
Year-to-date sales up 7 percent year-over-year.
Profit increased 76 percent year-over year.
Sales to manufacturing customers grew 3.4 percent.
Sales increased 3.7 percent year-over-year.
Profit for the electrical distributor decreased 13.6 percent to $25.1 million.
Goods and services deficit down $1.1 billion year-over-year.
SMI is a distributor of linear motion and motion control products.
Company reports loss of $19 million for the quarter.
Annualized growth through June is 5.3 percent.
Fourth quarter sales down 3.6 percent year-over-year.
Profit increased 16 percent to $3.1 million.