Lawson Products Sales Down 0.3% in 1Q

Average daily sales also down 1.9 percent in first quarter.

Lawson Products Inc. (NASDAQ:LAWS), Chicago, IL, reported sales for the first quarter of $69.7 million, a decrease of 0.3 percent from the previous year, with average daily sales down 1.9 percent. Profit was $1.1 million compared to a loss of $1.3 million for the same period a year ago.

Sales were impacted by a general slow-down in the MRO marketplace, continued weak demand from customers in the oil and gas industry and a decline in the Canadian dollar from a year ago. This overall decrease was partially offset by continued growth in the Kent Automotive division.

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