DXP Enterprises, Inc. reported sales increased 58.9% to $444.5 million for 2007, thanks to its acquisition of Precision Industries earlier in the year. Profit was $17.3 million, up from $11.9 million in 2006.
In the fourth quarter, profit was $5.7 million, compared with profit of $3.5 million in 2006. Sales in the fourth quarter were up 113% to $168.8 million, again thanks to the acquisition of Precision.
DXP Enterprises distributes pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. The distributor also has an integrated supply program, Smart Source.