The Power Transmission Distributors Association (PTDA) released June trend data for distributors and manufacturers of power transmission/motion control (PT/MC) products.
In June, U.S. distributors' year-to-date sales of PT/MC products increased 1.1 percent as compared to sales for January through June in 2002. Sales were up 3.8 percent over the previous month and gained 2.7 percent as compared to June 2002. Days sales in accounts receivables decreased 5.3 percent over May 2003 and fell 6.2 percent as compared to the same month last year. Annualized inventory turnover in June was 4.2 turns, compared to 4.1 turns in 2002.
For June, the confidence level of U.S. distributors rose to 5.0 on a 10-point scale.
Canadian distributors' year-to-date sales of PT/MC products ...
The Industrial Distribution Association (I.D.A.) has named Donald F. Ruggles, as Interim Director of the association effective immediately.
Mr. Ruggles is Chairman of the Board of MSCO, Inc. (Martin Supply) in Sheffield, Alabama. As Interim Director, he will act as a liaison between the I.D.A. Officers, Board of Directors and full-time staff while commuting periodically to the I.D.A. headquarters to oversee other association business. He will serve as Interim Director until the I.D.A. leadership completes a thorough search for a permanent management leader.
Elected President of Martin Supply in 1968, Don served as I.D.A. President in 1992-1993 and currently serves on the I.D.A. Past Presidents Council. He is also a past Board member of Affiliated ...
June U.S. machine tool consumption totaled $244.55 million, according to AMTDA, the American Machine Tool Distributors' Association, and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 67.1% from May and up 3.3% from the total of $236.79 million reported for June 2002. With a year-to-date total of $952.86 million, 2003 is down 17.9% compared to the same period in 2002.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"June orders were up 3 percent from June 2002, the first growth in a monthly year-on-year comparison since November 2000," noted Albert W. Moore, AMT President. "A single instance does ...
In a move that could have a huge impact on how distributors communicate with customers and prospects, the Federal Communications Commission announced new regulations governing how businesses can use faxes to send marketing communications. The new rules, contained in a revision to the Telephone Consumer Protection Act, also impact how trade associations can use faxes to communicate with their members or prospective members.
The regulations, scheduled to take effect Aug. 25, 2003, require signed, written consent to send any fax that contains an "unsolicited advertisement." However, enforcement of the new rules likely won't take place until at least the end of ...
Strategic Distribution, Inc., Bensalem, PA, reported revenues for the second quarter of 2003 ended June 30, 2003 were $37.4 million, as compared to revenues of $92.6 million and $40.7 million reported for the second quarter of 2002 and the first quarter of 2003, respectively. The $55.2 million decrease in revenues from the second quarter of 2002 to the second quarter of 2003 was primarily attributable the termination of the Kraft Foods North America, Inc. (Kraft) integrated supply agreement, the termination of unprofitable In-Plant Store(R) contracts, and to weakness within our manufacturing and energy customer base. The termination of the Kraft integrated supply agreement accounted for $47.1 million of the reduction in revenues and was comprised of a one-time inventory sale of $26.2 ...
New orders for manufactured goods in June increased $5.5 billion or 1.7 percent to $326.0 billion, the Department of Commerce, Census Bureau reported. This followed a 0.3 percent May increase. Year to date, new orders for 2003 were 2.6 percent above the same period a year ago.
Shipments increased $3.5 billion or 1.1 percent to $324.6 billion. This followed a 0.3 percent May increase. Year to date, shipments for 2003 were 1.4 percent above the same period a year ago. Unfilled orders increased $1.4 billion or 0.3 percent to $478.1 billion, following a 0.1 percent May decrease. The unfilled orders-to-shipments ratio was 4.01, down from 4.03 in May.
Inventories, down four consecutive months, decreased $0.8 billion or 0.2 percent to $430.5 billion, following a 0.2 percent ...
Economic activity in the manufacturing sector grew in July, while the overall economy grew for the 21st consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Businessﾮ.
The report was issued today by Norbert J. Ore, C.P.M., chair of the Institute for Supply Managementﾙ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. "While the overall economy continues to improve, the manufacturing sector reversed its recent trend of contraction and grew during July for the first time in five months. The improvement in New Orders continues to be very encouraging, and reinforces the possibility that the economy will continue to improve during the second half of the ...
Industrial Distribution Group, Inc. reported second quarter 2003 revenues were $121.1 million compared to $127.4 million for the comparable period in 2002. The company continued to increase its FPS sales and implement new FPS sites during the second quarter, however, the continuing recession in the manufacturing sector constrained sales volume from both its services offerings and from its traditional product sale activities. In spite of these factors, the company was able to achieve higher net income for the second quarter of 2003 of $543,000 or $0.06 per diluted share compared to net income of $428,000 or $0.05 per diluted share for the comparable period of the prior year.
For the six months ended June 30, 2003, revenues were $244.1 million compared to $247.4 million for the ...
Kennametal Inc., Latrobe, PA, reported fiscal 2003 fourth quarter sales of $463.8 million, 15 percent above prior year, driven by the Widia acquisition. Free operating cash flow was $55 million versus $43 million in fiscal 2002.
Kennametal Chairman, President and CEO, Markos I. Tambakeras, said, ''We are pleased to deliver a credible performance in fiscal 2003, in the context of a manufacturing recession that persisted in North America, for the third year, and deepened in Europe. Our continuing disciplined management of the business strengthened the foundation that will enhance our operating leverage as global manufacturing economies improve.''
Tambakeras continued, ''We substantially improved our competitiveness across all fronts. The delivery of another strong year ...
Lawson Products, Inc., Des Plaines, IL, reported second quarter 2003 net sales of $97.1 million, a decrease of 2.8% from second quarter 2002 net sales of $99.9 million. Net sales for the six-month period ended Jun. 30, 2003, declined 1.3% to $193.2 million from $195.6 million for the same period last year.
The OEM segment reported net sales increases of 1.8% to $16.9 million for the second quarter and 2.6% to $33.5 million for the first six months of 2003. Net sales for the MRO segment were $80.2 million for the second quarter and $159.7 million for the six-month period ended Jun. 30, 2003, decreases of 3.7% and 2.0% , respectively.
In the second quarter, the company incurred a special pre-tax charge of $1.2 million ($.8 million after tax) related to the severance and ...
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