4/26/2016 11:10:00 AM
NEWS BRIEFS
Dorman Products Reports Sales & Profit Gains
Dorman Products reported sales, including fasteners, rose 10% to $208.1 million in the first quarter of 2016.
Operating income increased 15.7% to $38.9 million, with net income growing 15.6% to $24.7 million. Gross profit margin was consistent year over year at 38.7%.
“We are pleased with our first quarter sales growth,” stated CEO Matt Barton. “It exceeded our expectations as a result of stronger than anticipated inventory expansion by one customer, and strong purchase and sell through levels throughout most of our customer base.”
Q1 capital expenditures dropped 2.6% to $5.6 million.
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