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Industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE), Houston, TX, reported sales for the first quarter of $238.5 million, a 5.9 percent decrease year-over-year. The company reported a profit of $3.1 million for the quarter, compared to a loss of $5.1 million the prior year.
"DXP’s industrial end markets, which is 51 percent of our business, appears to have found some legs and shows signs of positive upward movement," said David R. Little, CEO and chairman. "Oil and gas, which is the remaining 49 percent of DXP, found a bottom in the third quarter of last year and is showing signs of gradual improvement.”