Industrial Distribution Group Reports 2.8% Sales Jump in 2Q
Industrial Distribution Group Inc. reported a 2.8% increase in sales for the second quarter ended June 30, 2006, compared with the same period last year. That figure excludes the company's Cardinal Machinery business unit, which was sold in the third quarter 2005.
IDG's net earnings for the second quarter were $1.5 million, down from the $1.6 million in the comparable period of 2005.
For the six months ended June 30, 2006, revenue was $277.3 million, slightly up from the $273.6 million reported in the first half of last year. That includes $4.6 million of revenue attributable to Cardinal Machinery. From its ongoing core operations, the company's revenue grew 3.1% over the 2005 period. Year-to-date net earnings were $3.1 million, compared to ...