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DXP Enterprises, Inc., Houston, TX, reported sales for the fourth quarter ended Dec. 31, 2008, were $193.6 million, up 14.7% over fourth quarter 2007. Profit increased 22.8% to $7 million.
Excluding fourth quarter 2008 sales of $18.4 million from businesses acquired in 2007 and 2008, sales for the 2008 fourth quarter increased 3.8% from the 2007 fourth quarter.
For the full year 2008, sales improved 65.8% to $736.9 million. Profit was $25.9 million, an increase of 49.7% over 2007.
Our goal today is to create opportunities caused by a contracting economy by gaining market share at the expense of our competitors. It is easier to perform when times are good but I look forward to our ability to succeed in these challenging times, CEO David R. Little said.
DXP Enterprises, Inc. is a distributor of products and services related to pumping, supply chain management and MROP.