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Lawson Products, Inc. (NASDAQ: LAWS), Des Plaines, IL, a distributor of products and services to the MRO and OEM marketplaces, reported sales for the third quarter were $89.3 million, an increase of 6.2 percent over the third quarter of 2009. Growth was primarily due to increased sales with strategic, government and automotive customers. Profit more than doubled to $3.43 million, compared to $1.5 million a year ago.
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"We continue to focus on transforming our business and have made significant progress with our ERP implementation and sales force restructuring," said Thomas Neri, president and CEO. "The sale of our ACS business generated cash and freed up valuable resources that we will use to further invest in our MRO business."
For the nine months ended Sept. 30, 2010, sales were $260.1 million, a 2.2 percent improvement over the prior year period. Profit was $7.45 million, compared to a year-ago loss of $2.6 million.