Prophet 21, Yardley, PA has acquired Dynamic Data Systems, Inc., the provider of Turns, an enterprise software solution for medical products distributors and other distributors in other vertical markets.
"Prophet 21 has a two-pronged growth strategy," said Chuck Boyle, Prophet 21 president and CEO, in making the announcement. "As we continue to successfully grow organically - adding more new distributor customers each year - we are also increasing our customer base through acquisition. Dynamic Data Systems is a powerful force in the medical products distribution market along with other vertical markets, and we are fortunate to be in a position to bring them into the Prophet 21 family."
Both Dynamic Data Systems and Prophet 21 users will benefit from melding of ...
Economic activity in the manufacturing sector grew in June for the 13th consecutive month, while the overall economy grew for the 32nd 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. "The manufacturing sector grew at a slightly slower, but still aggressive, rate in June. The rate of growth in New Orders and Production remained encouraging as we head into the third quarter. Additionally, the Inventories Index rose above 50 percent, a somewhat rare occurrence, but not unexpected at this stage of a ...
Guardair Corporation, Chicopee, MA, acquired the assets of Nortech Corporation of Midland Park, NJ. A manufacturer of pneumatic powered vacuums since 1959, Nortech will operate as a division of Guardair Corporation and will be based at Guardair's Chicopee, MA headquarters. The Nortech product line includes more than 20 different vacuum models in addition to a complete set of accessories and options.
According to Thomas C. Tremblay, president of Guardair ''We are extremely excited about the Nortech acquisition as it complements our pneumatic tool business and provides additional opportunities for our existing product line in the industrial cleaning market.''
For over half a century, Guardair has manufactured safety air guns, spray equipment and accessories ...
W.W. Grainger, Chicago, IL, reported sales were $1.2 billion for the first quarter ended Mar. 31, up 8% over the prior year's first quarter. Net earnings were up 19% to $62.6 million. Earnings per share were 69 cents versus 57 cents in the 2003 first quarter. The 2004 quarter had one additional selling day.
'We achieved strong sales and earnings growth this quarter due to the strengthening economy and our improved customer service,' said Grainger's Chairman and CEO Richard L. Keyser.
'Over the past few years we've invested in our operations to improve performance and accelerate growth. We completed our logistics network project in March with the opening of our ninth distribution center in New Jersey. All of our distribution centers are up and running, and we continue to see ...
Applied Industrial Technologies, Cleveland, OH, reported net sales for its fiscal third quarter ended Mar. 31 were $391.1 million, up 6.2% compared with $368.2 million in the same period a year ago. Net income for the quarter increased 142.1% to $10.6 million from $4.4 million last year. For the nine months ended Mar. 31, 2004, sales increased 1.8% to $1,111.9 million from $1,091.9 million in the same period last year. Net income increased 69.4% to $20.6 million versus $12.1 million last year.
The third quarter of fiscal 2003 did include non-operating charges of $1.7 million to provide for potential losses on investments and advances to an affiliated company. The third quarter of 2004 includes non-recurring tax benefits primarily from a late-March settlement with the Internal ...
Barnes Group Inc., Bristol, CT, reported net sales for the quarter ended Mar. 31, 2004 were $247.2 million, up 13% from $218.7 million in the first quarter of 2003. Net income increased 31% to $9.6 million in the first quarter of 2004, from $7.4 million in the comparable year-ago period.
"With the financial results we generated in the first quarter, 2004 is off to a strong start, and the momentum improved as we progressed through the quarter," said Edmund M. Carpenter, Barnes Group Inc.'s president and CEO. "Profitability at Barnes Distribution came in a bit ahead of our previous indications, even as the distribution center integration continued to move along, while sales growth at both Barnes Aerospace and Associated Spring significantly exceeded that of their primary end ...
MSC Industrial Direct Co., Inc., Melville, NY, reported net sales for the second quarter of fiscal 2004 ended Feb. 28 increased 10.0% to $230.5 million, compared to net sales of $209.6 million in the second quarter of fiscal 2003. In the first quarter of fiscal 2004, the company reported a net sales growth rate of 5.7% over the same period in fiscal 2003. Net income for the fiscal 2004 second quarter was $18.5 million, 45.4% higher than fiscal 2003's second quarter net income of $12.8 million. Fully diluted EPS was $0.27 per diluted share, 42.1% higher than the $0.19 per diluted share earned in the same period last year.
For the first half of fiscal 2004, the ompany's net sales rose 7.8% to $453.3 million, compared to net sales of $420.3 million a year ago. Net income in the ...
Strategic Distribution, Inc., Bensalem, PA, reported revenues for the fourth quarter of 2003 were $26.4 million, compared to revenues of $40.9 million reported for the fourth quarter of 2002. The $14.5 million decrease in revenues was primarily attributable to the termination of the El Paso Corporation (EPC) integrated supply agreement in July 2003. The EPC termination accounted for $8.0 million of the decrease. The company reported no EPC revenues in the fourth quarter of 2003. Additional decreases in revenues were attributable to the termination of other integrated supply service contracts totaling $4.4 million and to continued weakness within our core customer base totaling $2.1 million.
The company reported a net loss of $0.7 million or 23 cents per share in the fourth quarter ...
January U.S. machine tool consumption totaled $161.19 million, according to the American Machine Tool Distributors' Association and the Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 23.9% from December, but up 19.4% from the total of $135.04 million reported for January 2003.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"The U.S. is starting to see the manufacturing sector gain much needed momentum," said Ralph J. Nappi, AMTDA President. "Orders for metalworking equipment were up in January from a year ago and the drop from December of 2003 can be attributable to strong orders due to companies taking ...
Economic activity in the manufacturing sector grew in January for the eighth consecutive month, while the overall economy grew for the 27th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Businessﾮ.
ISM's Purchasing Managers Index registered 63.6 percent in January, an increase of 0.2 percentage point when compared to the seasonally-adjusted 63.4 percent in December. ISM's New Orders Index declined 2 percentage points from 73.1 percent in December to 71.1 percent in January. ISM's Production Index rose 1.9 percentage points from 69.2 percent in December to 71.1 percent in January. The ISM Employment Index is at 52.9 percent for January, a decrease of 0.6 percentage point when compared to the 53.5 percent reported in ...
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