Lawson Products reported sales, including fasteners, increased 10.6% to $305.9 million in 2017. Operating income rose to $9.9 million compared to a $1.4 million loss in 2016.

“We finished 2017 with a 17.8% increase in average daily sales driven by both acquired revenue and a 6.1% growth within our Lawson business segment that helped drive our annual 2017 operating income to $9.9 million,” stated CEO Michael DeCata. “The sales growth was driven by an 8.3% increase in sales per rep per day in the Lawson segment and the acquisition of The Bolt Supply House this past October.

“This acquisition, being our largest to date, was an important step in pursuing our growth strategy of acquiring companies that significantly add to our revenue and leverage our infrastructure to drive earnings.”

Sales during the fourth quarter increased 19.8% to $80.6 million. Average daily sales grew 17.8% to $1.32 million, benefitting from the Bolt Supply acquisition in the amount of $8 million along with continued growth in strategic customers, Kent Automotive and core accounts.

Q4 gross profit increased 16% to $47 million, while margins declined slightly to 58.3% compared to 60.2% a year ago primarily as a result of the Bolt Supply acquisition. Bolt Supply generated gross margin dollars of $3.4 million representing 43.2% of their sales. Web: LawsonProducts.com