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DXP Sales Up 13.2% in 2013

DXP Enterprises, Inc. (NASDAQ: DXPE), Houston, TX, reported sales for 2013 were $1.2 billion, up 13.2 percent over sales in 2012. Profit increased 18 percent to $60.2 million.

Fourth-quarter sales were $313.8 million, up 7 percent over the same period a year ago. Profit grew 20 percent to $16.9 million.

Innovative Pumping Solutions posted 29.6 percent sales growth, while DXP’s Service Centers grew 13.5 percent. Supply Chain Services revenues declined by 5.6 percent.

Acquisitions fueled the majority of DXP's growth in 2013. The company completed four strategic acquisitions during the year, including National Process Equipment, Inc. and Alaska Pump in the rotating equipment division and Tucker Tool and Tool-Tech in the metal working division.

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