Lawson Income Down

Jason Sandefur

Lawson Products Inc. reported net sales for first quarter of 2005 increased 6.4% to $107.1 million. Net income slipped 21.7% to $5 million, hampered by higher product costs and the addition of marketing and technology personnel.
“We have felt the impact of raw material shortages and cost increases that started during mid-2004 and are continuing,” stated CEO Robert Washlow.
MRO sales grew 6.3% during Q1, and OEM sales gained 6.9%. Both segments benefited from the addition of new customers. Web: lawsonprod.com �2005 FastenerNews.com