The 2020 Mid-Year Economic Update_long

Lawson Products Sales Up 3% in 1Q

Average daily sales also up 3 percent in first quarter.

Lawson Products Inc. (NASDAQ: LAWS), Chicago, IL, reported sales for the first quarter of $69.2 million, an increase of 3 percent from the previous year, with average daily sales also up 3 percent. Lawson reported a net loss for the first quarter of $3 million, compared to a net loss of $3.2 million for the same period a year ago.

“Expanding our sales team continues to be a top priority and this quarter we added 30 sales reps," said Michael DeCata, president and CEO. "We are continuously improving our hiring, onboarding and training processes and are successfully attracting high-quality, experienced sales representatives to our organization. We plan to continue our sales force expansion."

During the quarter, Lawson also finalized the sale of its Automatic Screw Machine Products Company subsidiary and entered into a commitment to sell its Reno, NV, distribution center.

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