Interline Brands, Inc. (NYSE: IBI), Jacksonville, FL, reported sales for the fourth quarter of $303 million, up 2.8 percent in a year-over-year comparison. Organically, sales increased 2.2 percent. Profit was $8.6 million, compared with $1.7 million a year ago.
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Interline's facilities maintenance end-market, which comprised 74 percent of sales, increased 13.6 percent on an average daily basis during the fourth quarter, and 3.4 percent on an average organic daily basis. The professional contractor end-market, 15 percent of sales, increased 0.5 percent on an average daily basis for the quarter. The specialty distributor end-market, 11 percent of sales, decreased 1.9 percent on an average daily basis for the quarter.
"Our end-market fundamentals are improving," said Kenneth D. Sweder, president and COO. "Multi-family remains strong, we are seeing increased activity from our stable base of institutional customers as we deliver a broader MRO offering, and our residential-focused business is beginning to see some slightly higher demand. These fundamentals, combined with our investments, are delivering growth."
Sales in 2011 were $1.25 billion, a 14.9 percent increase over sales in 2010. Profit increased 35.1 percent to $37.7 million.