Interline Brands Inc., Jacksonville, FL, distributor and direct marketer of broad-line maintenance, repair and operations products to the facilities maintenance end-market, reported sales for the third quarter of $442.4 million, up 5percent year-over-year. The company reported a profit of $7.2 million, compared to a net loss of $7.2 million in the third quarter of 2013.
"Our institutional business contributed nicely to our growth driven primarily by our national accounts program, higher cross-selling activity, and strong underlying fundamentals in the market," said CEO Michael Grebe. "Our multi-family business also performed well during the quarter despite lower demand for HVAC products caused by milder weather conditions in August."
Sales to institutional facilities customers, comprising 50 percent of sales, increased 6.8 percent for the quarter. Sales to multifamily housing facilities customers, comprising 31 percent of sales, increased 4.8 percent for the quarter. Sales to residential facilities customers, comprising 19 percent of sales, increased 1.6 percent for the quarter.
Year-to-date sales were $1.3 billion, up 4.3 percent over the prior-year period. The company reported a loss of $37.5 million in the first nine months of the year, compared to a loss of $7.5 million in the prior-year period. For the first nine months of the year, sales to institutional facilities customers, multi-family housing facilities customers and residential facilities customers increased 5.2 percent, 5.2 percent and 1.4 percent, respectively.
