DXP Enterprises, Inc., Houston, TX, reported sales were up 49.6% to $62.5 million in the first quarter ended March 31, 2006, compared with $41.8 million in the first quarter last year. Sales by the two businesses acquired in 2005 accounted for $8.7 million of the sales increase. Excluding sales by those businesses, sales for the first quarter increased 28.8% from the same period last year.
DXP Enterprises saw profit rise 193% to $2.5 million for the first quarter, up from $854,000 in the same period last year.
Mac McConnell, Senior Vice President and Chief Financial Officer, said, “The businesses we acquired in 2005 have been successful in the first quarter of 2006. Combined sales for these two businesses increased approximately 42% compared to the pre-acquisition sales of those businesses for the first quarter of 2005. We are proud of our personnel for promptly completing the conversion of both of these businesses to DXP’s computer system.”
DXP Enterprises, Inc. is a products and service distributor focused on MRO and OEM customers. DXP provides innovative pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services in pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.
For more details on DXP Enterprises’ first-quarter sales, click here.