Interline Brands Inc., Jacksonville, FL, (NYSE: IBI), distributor and direct marketer of maintenance, repair and operations products, reported sales for the quarter ended March 26, 2010, were $245.2 million, down 4.5% compared with the prior-year period.
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Interline's facilities maintenance end-market, which comprised 72% of sales, declined 3.1% during the first quarter. The professional contractor end-market, which comprised 16% of sales, declined 8.9% for the quarter. The specialty distributor end-market, which comprised 12% of sales, declined 6.7% for the quarter.
Profit for the quarter was $5.5 million, about double that of the prior-year period.
"In the face of continued economic uncertainty and some challenges posed by weather, I am pleased with our progression during the quarter. We are by no means where we want to be yet, but we are encouraged by the direction of our performance," said Chairman and CEO Michael Grebe. "We are beginning to see more stability in certain end-markets ,and we are confident that our competitive position will serve us well as conditions continue to improve."
