IDG Records 2.8% Sales Jump in 3Q
Industrial Distribution Group, Inc., Atlanta, GA, reported a 2.8% sales increase in the third quarter 2006 to $139 million. On a per day basis, revenue increased 4.4% over the prior-year quarter.
Profit was up to $1.8 million from $1.2 million in the prior-year period.
The 2005 quarter results include the company's former Cardinal Machinery business unit, which was sold in September 2005.
Revenues for the nine months ended Sept. 30, 2006, increased 1.8% to $416.3 million. The company's profit for the 2006 nine-month period was $4.9 million compared $3.9 million for the comparable period of 2005.
"The third quarter operating results are further evidence that IDG is achieving steady progress on our strategic initiatives and business ...