Lawson Sees Profit Gain

Jason Sandefur

Despite “significant raw material cost increases for steel and petroleum products experienced in the second half of 2004 and early in 2005,” Lawson Products Inc. net income rose 5.7% to $5.6 million during the second quarter of 2005. Q2 sales climbed 8.7% to $113.6 million. MRO sales grew 9%, driven by new customers and “improved penetration of existing customers.” OEM sales gained 7.8% during the quarter.
During the second quarter Lawson spend $5.5 million to repurchase 130,642 shares of common stock.
For the first six months of 2005 sales increased 7.5% to $220.6 million, while net income slipped 10.8% to $10.56 million. Web: lawsonproducts.com �2005 FastenerNews.com