DXP Enterprises, Inc. (NASDAQ: DXPE), Houston, TX, No. 4 on MDM’s list of top power transmission/bearing distributors, reported sales for the third quarter of $207.9 million, an increase of 20.7 percent over the same period a year ago. Profit increased 56.6 percent to $8.3 million. Excluding the impact of acquisitions, sales increased 17.2 percent.
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For the first nine months, sales were $588.6 million, up 21 percent over the prior-year period. Profit increased 64 percent to $22.2 million. Excluding the impact of acquisitions, sales increased 14.5 percent.
Net income for the third quarter sequentially increased 8.7 percent from $7.6 million in the second quarter to $8.3 million in the third quarter of 2011. Likewise, sales sequentially increased 5.1 percent from $197.7 million in the second quarter to $207.9 million in the third quarter of 2011.