The 2020 Mid-Year Economic Update_long

Acquisitions Boost DXP Enterprises’ 2Q Earnings

DXP Enterprises, Inc., Houston, TX, announced a 99.7% increase in net income to $2,950,000 for the second quarter ending June 30, 2006, compared with the same period last year. Sales increased 53.5% to $69.8 million from $45.5 million for the second quarter of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $9.1 million of the sales increase. Excluding sales by the acquired businesses, sales for the second quarter of 2006 increased 33.4% from the second quarter of 2005.


Year-to-date net income as of June 30, 2006, increased 134% to $5.5 million. Sales increased 51.6% to $132.3 million from $87.3 million for the first six months of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $17.6 million of the sales increase. Excluding sales of the acquired businesses, sales for the first six months of 2006 increased 31.4% from the same period in 2005.


David R. Little, chairman and CEO, said, “Our industrial customer base continues to indicate a strong outlook in the upstream and downstream energy sectors of oil, gas and coal. We are also seeing continued growth opportunities in the chemical, petrochemical, mining and general industries sectors. The dynamic of all of DXP’s major markets seeing growth and future opportunities gives us a continued positive long term outlook.”


DXP Enterprises, Inc. is a products and service distributor to MRO and OEM customers in virtually every industry. DXP distributes pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.


For more details on DXP’s 2Q earnings, click here.

More Breaking News

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.