Lawson Products Inc. (NASDAQ:LAWS), Chicago, Illinois, reported first-quarter sales of $91.3 million, a 8.2% increase compared to the year-ago period. The company reported profit of $4.1 million, compared to $1.2 million in the same period a year ago.
"Our excellent first quarter results reflect the continued benefits from our previous investments and process improvements," said Michael DeCata, president and CEO. "Again this quarter, we demonstrated our ability to drive profitable sales growth and leverage our infrastructure to accelerate profitability. We delivered an 8.2% sales increase while our operating income grew to $5.5 million compared to $1.8 million a year ago. This performance was driven by increased Lawson sales rep productivity, sales growth at Bolt Supply, and the inclusion of Screw Products. We efficiently managed our operating expenses which enhanced the growth of our adjusted operating income by 74% in the quarter."