DXP Enterprises, Inc., Houston, TX, reported a 181% increase in profit for the third quarter ending Sept. 30, 2006. Sales increased 57.2% to $68.2 million from $43.4 million for the third quarter of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $9.3 million of the sales increase.
Excluding sales by the acquired businesses, sales for the third quarter increased 36.2% from the third quarter of 2005.
Year-to-date profit as of Sept. 30, 2006 increased 148.6% to $8.4 million. Sales increased 53.5% to $200.5 million from $130.6 million for the first nine months of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $26.9 million of the sales increase. Excluding sales of the acquired businesses, sales for the first nine months of 2006 increased 33.0% 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.”
DXP Enterprises, Inc. is a distributor of pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.
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