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Lawson Products 1Q Sales Down 21%

Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for the first quarter of 2009 were $99.4 million, down 21% year-over-year.  The company recorded a loss of $5.9 million for the quarter, compared to a profit of $4.4 million a year ago.
Restructuring charges and additional costs related to the settlement of the investigation by the U.S. Attorney's Office for the Northern District of Illinois, totaled $6.5 million in 2009 and $1.3 million in 2008.
"While the global economic recession continues to impact our business, we remain committed to making aggressive cost decisions that will better position Lawson to emerge as a stronger company than it was when we entered this challenging period,  said Thomas Neri, President and CEO.
Earlier this year, Lawson announced it would close distribution centers in Charlotte, NC, and Dallas, TX, and reduce headcount by 11% companywide.

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