8/4/2009
HEADLINES
STOCKS: Vertex Distribution Q2 Sales Announced
Vertex Distribution parent company DXP Enterprises reported revenue, including fasteners, declined 23% to $144.4 million during the second quarter of 2009. Net income fell 31% to $2.16 million.
“Sales from businesses acquired in 2008 (including Vertex) … accounted for $12 million” of Q2 sales, the company stated.
Six-month DXP sales slipped 15% to $302 million, which included $26.2 million in revenue from Vertex and other companies acquired in 2008. Net income dropped 55% to $5.3 million for the first half of 2009.
DXP acquired PFI LLC – the parent company of Vertex Distribution – for about $65 million during 2008. ©2009 GlobalFastenerNews.com
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