1/16/2014 1:35:00 AM
NEWS BRIEFS
Bisco Industries Sales and Profit Rise
Bisco Industries reported sales for the first quarter of fiscal 2014, which ended November 30, 2013, rose 6.1% to $31.03 million, with costs rising 4.6% to $22.2 million. Gross profit grew 10% to 8.9 million, and margins increased one percentage point to 28.7%.
The company said revenue gains were largely due to increased unit sales, resulting from sales headcount increase of 7% to 320 salespeople in fiscal Q1.
Bisco also recognized a gain of $535,000 related to the sale of its Orange Park Property in October 2013.
Cash used in operating activities was $522,000 for the three months ended November 30, 2013, as compared with $539,000 for the three months ended November 30, 2012.
Bisco is a distributor of electronic components and fasteners with 45 sales offices and six distribution centers located throughout the U.S. and Canada. Bisco supplies parts to OEMs in the aerospace, circuit board, communication, computer, fabrication, instrumentation, industrial equipment and marine industries.
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