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Interline Brands Sales Flat in Second Quarter

Interline Brands, Inc. (NYSE: IBI), No. 14 on the top 40 industrial distributors, reported sales for the second quarter ended June 25, 2010, were $270.2 million, up 0.1 percent in a year-over-year comparison. Profit for the distributor of maintenance, repair and operations products increased 41.6 percent to $$9.1 million.

Interline's facilities maintenance end-market (74 percent of sales) declined 0.7 percent during the second quarter. The professional contractor end-market (15 percent of sales) increased 1.1 percent for the quarter. The specialty distributor end-market (11 percent of sales) increased 3.2 percent.

"Although not broad-based, certain markets returned to modest growth this quarter – including the multi-family housing, professional contractor, and specialty distributor markets. Importantly, within multi-family housing we were pleased to see an improving renovation environment, which was adversely impacted during the height of the economic crisis," CEO Michael J. Grebe said.

Sales for the first six months were $515.4 million, a 2.2 percent decrease over sales of $526.7 million in the comparable 2009 period. Profit increased 58 percent to $14.7 million.

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