DXP Enterprises' Profit Doubles in 2005
DXP Enterprises, Inc., Houston, TX, reported sales increased 45% to $54.7 million for the fourth quarter ended Dec. 31, 2005, from $37.7 million for the same period last year. Profit increased 222% to $2.1 million for the fourth quarter.
Sales for the full year increased 15.4% to $185.4 million from $160.6 million in 2004. Profit nearly doubled (up 97%) to $5.5 million in 2005 from the year before.
Sales by two businesses acquired in 2005 accounted for $7.3 million of the 2005 sales increase. Excluding sales of the acquired businesses, sales climbed 10.9%. The two businesses accounted for $6.9 million of the sales increase in the fourth quarter. Excluding sales of the two acquired businesses, sales for the fourth quarter were up 26.7%."Sales and profits for ...