IDG Reports Small Jump in 1Q Revenues
Industrial Distribution Group, Inc., Atlanta, reported its first quarter revenues for the period ended March 31, 2006, were $140.3 million compared with $137.9 million in the comparable quarter in 2005.
Revenue for the three months ended March 31, 2005 includes $2.3 million associated with the company's Cardinal Machinery business unit which was sold during the third quarter 2005. The company's net income for the first quarter of 2006 increased 25.8% to $1.5 million compared to net income of $1.2 million for the comparable period of the prior year.
For the first quarter, revenues from Flexible Procurement Solutions(TM) (FPS), IDG's services-based supply offerings that include storeroom management, were $80.6 million, an increase of $5.8 million or 7.7% compared ...