The 2020 Mid-Year Economic Update_long

DXP Enterprises 3Q Sales Fall 23.3%

For the first nine months, DXP's sales declined 57.4%.

DXP Enterprises (NASDAQ: DXPE), Houston, TX, reported third quarter sales of $143.4 million, a decrease of 23.3% from third quarter 2008. Profit declined 61.8% to $2.68 million. Excluding sales from acquired businesses, sales decreased 27.9%.

Sequentially, profit for the third quarter of 2009 increased 23.9% compared to the second quarter of 2009. Sales for the third quarter of 2009 declined 0.7% compared to the second quarter of 2009.

For the nine months ended Sept. 30, 2009, sales were $445.4 million, down 18% from the prior year period. Profit declined 57.4% to $8.02 million.

DXP provides pumping solutions, supply chain services and MROP (maintenance, repair, operating and production) services, and distributes pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.

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