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NOW Inc. (NYSE: DNOW), Houston, TX, reported fourth-quarter sales of $764 million, up 14 percent compared with the fourth quarter of 2017. Net income was $16 million for the quarter, compared with a loss of $3 million a year ago, the company said.
For the full year, the distributor reported $3.13 billion, up from $2.65 billion last year. The company reported net income of $52 million for the year.
Company President and CEO Robert Workman cited the firm’s strength during an uneven recovery, and said softer conditions are expected in the company’s markets in 2019. NOW Inc. serves energy and industrial markets worldwide, under the DistributionNOW and Wilson Export brands.