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MRO distributor Lawson Products, Inc. (NASDAQ:LAWS), Chicago, IL, reported sales for the third quarter ended Sept. 30, 2017, were $75.7 million, up 7.8 percent from $70.2 million a year ago.
Average daily sales during the quarter grew 9.5 percent.
Sales were positively impacted by the 11 percent increase in sales rep productivity, the effect of acquisitions completed in 2016 and the continuing improvement in the MRO market. Previous acquisitions contributed 1 percent of the sales increase for the quarter. Year-to-date average daily sales were up 8.2 percent over the prior year.
Profit for the third quarter of 2017 was $1.3 million.
During the third quarter, Lawson completed the fifth and largest acquisition in 24 months, The Bolt Supply House Ltd., Calgary, Alberta, which will add $34 million to its annual consolidated sales. The acquisition is not reflected in third-quarter results.
Year-to-date sales were $225.3 million, up 7.6 percent from the prior-year period. Profit was $9.5 million.