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Interline Sales Grow 33.1% in 2Q

Interline Brands Inc., Jacksonville, FL, distributor of maintenance, repair and operations products, reported sales in the second quarter ended June 29, 2007, were up 33.1% over the same period a year ago.
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Sales for the quarter were $313.2 million. Average organic daily sales grew 4.2%.
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Though much of its overall growth was a result of the acquisition of AmSan in July 2006, Interline also reported strong sales performance in its facilities maintenance MRO businesses, which grew at 17.8%.
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The professional contractor business fell 9.6%, and Interline's specialty distributor business sales declined 10.6% from the comparable period.
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We invested approximately $1 million during the quarter in organic growth initiatives. We added field ...

Interline Brands Inc., Jacksonville, FL, distributor of maintenance, repair and operations products, reported sales in the second quarter ended June 29, 2007, were up 33.1% over the same period a year ago.
&nbsp ;
Sales for the quarter were $313.2 million. Average organic daily sales grew 4.2%.
&nbsp ;
Though much of its overall growth was a result of the acquisition of AmSan in July 2006, Interline also reported strong sales performance in its facilities maintenance MRO businesses, which grew at 17.8%.
&nbsp ;
The professional contractor business fell 9.6%, and Interline’s specialty distributor business sales declined 10.6% from the comparable period.
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We invested approximately $1 million during the quarter in organic growth initiatives. We added field sales and national accounts resources in the facilities maintenance market, and implemented supply-chain management programs with numerous customers,” said Michael Grebe, chairman and CEO. “We also maintained a heavy level of investment in the AmSan integration during the quarter. AmSan just completed its first year as part of the Interline family, and we are very pleased with its performance thus far.”
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Sales for the six months ended June 29, 2007, were $608.7 million, a 32.3% increase over the comparable 2006 period. Average organic daily sales growth was 3.7%.
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“Our second quarter was a challenging quarter given the difficult market conditions surrounding the pro contractor and specialty distributor end-markets,” Grebe said. “We were also up against tough prior-year sales growth comparisons. Our second quarter 2006 organic sales growth rates in the pro and specialty markets were 14.8% and 11.3%, respectively. We still do not expect market conditions in these two end markets to improve during 2007.”

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