Interline Sales Down 5% in 1Q, Though Profits Surge
Industrial distributor Interline Brands reported sales for the first quarter of 2010 decreased 4.5% compared to the first quarter of 2009. Earnings per diluted share were $0.17 for the first quarter of 2010, an increase of 89% compared to earnings per diluted share of $0.09 for the same period last year.
Interline's facilities maintenance end-market, which comprised 72% of sales, declined 3.1% during the first quarter. The professional contractor end-market, which comprised 16% of sales, declined 8.9% for the quarter. The specialty distributor end-market, which comprised 12% of sales, declined 6.7% for the quarter.
Although the company reported a 91 percent rise in first-quarter profit, it was due mainly to lower operating expenses.
Read herefor the full press release.