The 2020 Mid-Year Economic Update_long

Lawson Products Sales Down 1.9% in 2Q

Year-to-date sales down 0.5 percent year-over-year.

MRO products distributor Lawson Products Inc. (NASDAQ: LAWS), Chicago, IL, reported sales for the second quarter of $70.7 million, a 1.9 percent decrease year-over-year. Profit for the quarter was $2.9 million, compared to $0.8 million for the same period a year ago.

“Sales continued to be impacted by the weaker Canadian dollar and reduced demand in the energy sector which has contributed to a broader based slow-down across the MRO marketplace," said Michael DeCata, president & CEO. "Those factors aside, we realized solid growth within many of our strategic customer relationships while at the same time achieved continued operating metric improvements.”

For the first six months, sales were $140.6 million, down 0.5 percent over the same period a year ago. Profit for the period was $1.6 million, compared to a year-ago loss of $2.2 million.

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