DXP Enterprises Sales Down 29.5% in Second Quarter - Modern Distribution Management

Log In

DXP Enterprises Sales Down 29.5% in Second Quarter

DXP Enterprises reported sales of $144.4 million in the second quarter 2009, a decrease of 23.1% from the prior-year period. Sales by businesses acquired in 2008, on a same-store basis, accounted for $12 million of 2009 sales.
Excluding these sales, sales fell 29.5% in the second quarter.

Profit was $2.16 million, down 31.7%.

Sales for the six months ended June 30, 2009, fell 15.2% to $302 million from the prior-year period. Profit was $5.3 million. Excluding first-half 2009 sales of $26.2 million by the businesses acquired in 2008, sales decreased 22.6% from the first half of 2008.

CFO Mac McConnell said: "Economic conditions for the oil and gas and industrial manufacturing industries have proven to be more severe than anticipated. … We will continue to ...
Author
Date

DXP Enterprises reported sales of $144.4 million in the second quarter 2009, a decrease of 23.1% from the prior-year period. Sales by businesses acquired in 2008, on a same-store basis, accounted for $12 million of 2009 sales.

Excluding these sales, sales fell 29.5% in the second quarter.

Profit was $2.16 million, down 31.7%.

Sales for the six months ended June 30, 2009, fell 15.2% to $302 million from the prior-year period. Profit was $5.3 million.

Excluding first-half 2009 sales of $26.2 million by the businesses acquired in 2008, sales decreased 22.6% from the first half of 2008.

CFO Mac McConnell said: "Economic conditions for the oil and gas and industrial manufacturing industries have proven to be more severe than anticipated. … We will continue to aggressively manage our costs and position ourselves to take advantage of opportunities when the economy begins to recover."

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.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.