The Industrial Distribution Group said that reduced demand for maintenance, repair, operations and production (MROP) products has caused a drop in earnings for the second quarter. The company expected earnings per share for the three months ended June 30 to range between $0.06 and $0.08 per share, compared with $0.21 per share for the same period a year earlier.
However, revenues for the second quarter should reach $135 million to $139 million, up considerably from $107 million for the same three months last year.