MRO distributor Interline Brands, Inc. (NYSE: IBI), Jacksonville, FL, reported first quarter sales of $297.4 million, an increase of 21.3 percent over the comparable 2010 period. Average organic daily sales increased 4.3 percent. Profit improved 23.2 percent to $6.9 million.
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\”Our first quarter results reflect broad-based improvement, and we are encouraged to report organic growth in all of our end-markets,\” CEO Michael Grebe said. \”Overall trends remain positive in our end-markets, and we have witnessed a meaningful change in the confidence levels of our customers.\”
Interline’s facilities maintenance end-market, which comprised 75 percent of sales, increased 26.4 percent during the first quarter. The professional contractor end-market, which comprised 14 percent of sales, increased 9.1 percent for the quarter. The specialty distributor end-market, which comprised 11 percent of sales, increased 6.3 percent for the quarter.