Global Industrial: Sales Up Overall Despite Down 4Q

Consolidated sales in 2021’s 4Q decreased 4.3% compared to the prior year, but overall annual sales were up 3.3%.
Global Industrial 2022 1q sales

Global Industrial Company (NYSE:GIC) of Port Washington, New York, reported consolidated sales in the fourth quarter of 2021 decreased 4.3% to $262 million compared to 2020, but overall annual sales increased 3.3% to $1.06 billion.

The 4Q of 2021 had 61 selling days, five fewer days than the same quarter in 2020. Sales increased 3.5% on an average daily sales basis. Consolidated operating income grew 23.7% to $26.1 million compared to $21.1 million in 2020, the company said.

Net income per diluted share from continuing operations increased 26.2% to $0.53 compared to $0.42 in 2020.

For the year, sales increased 5% on an average daily sales basis. Consolidated operating income increased 4.6% to $88.0 million compared to $84.1 million in 2020.

Net income per diluted share from continuing operations increased 9.5% to $1.84 compared to $1.68 last year, the company said.

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