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In The News:

Interline Brands Sales Fall 3.5% in 2008

Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales in the fourth quarter 2008 fell 7.5% from the prior-year period.
 
Sales for the quarter ended Dec. 26, 2008, were $277.6 million. Average organic daily sales fell 9.3%. Interline's facilities maintenance end-market, 67% of sales, declined 5.7% during the fourth quarter on an average daily sales basis, and declined 8.4% on an average organic daily sales basis. The pro contractor end-market, 20% of sales, declined 14.6% in the quarter and the specialty distributor end-market, which comprised 13% of sales, declined 5.5% for the quarter. Fourth quarter 2008 operating income of $15.9 million, or 5.7% of sales, decreased 46.1% compared to $29.5 million, or 9.8% of sales in the fourth quarter of 2007.
 
The company said it saw "solid performance" in repair and maintenance items, as well as janitorial and sanitation products. These areas were offset by declines in larger ticket items, larger renovation projects, and product upgrades.
 
Sales for 2008 decreased 3.5% to $1.2 billion from 2007.  Average organic daily sales fell 4.3% for the year.

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