The 2020 Mid-Year Economic Update_long

Lawson Products Sales Up 6% in 2014

Fourth quarter sales were up 6.9 percent year-over-year.

Lawson Products Inc. (NASDAQ:LAWS), Chicago, IL, reported sales for 2014 of $285.7 million, up 6 percent from the previous year. The distributor of MRO products reported a loss of $4.4 million for the year, compared to a loss of $5.1 million in 2013.

Fourth-quarter sales were $70.3 million, up 6.9 percent from the prior-year period, driven by 12 percent year-over-year sales growth in strategic accounts and the Kent Automotive division. The company reported a loss for the quarter of $2.7 million, as compared to a loss of $2.9 million for the same period a year ago.

“In the fourth quarter, we added 22 sales reps and 110 for all of 2014,” said Michael DeCata, president and CEO. “Customers continue to value our services as evidenced through our higher customer retention, new customers gained and stable gross margins.”

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