Posted March 16, 2011
DXP Enterprises sales up 23.1%
DXP Enterprises said sales for the fourth quarter of 2010 increased 23.1% to approximately $169.7 million from $137.8 million for the same period in 2009.
For the year, DXP reported a sales increase of 12.5% to approximately $656.2 million from $583.2 million for 2009.
The Houston-based distributor earned net income of $5.9 million, or 39 cents per fully diluted share, compared to $2.6 million, or 19 cents per share, in the fourth quarter of 2010.
For the year, DXP reported net income of $19.4 million, with diluted EPS of $1.32 compared to $10.7 million, or 76 cents per share in the previous year. f
"2011 looks bright as we enter the year with strong financial resources, great technology and an experienced team capable of delivering great products and services to our customers and excellent financial results to our shareholders. We believe that most of our markets, especially oil and gas, are improving," said David R. Little, chairman and chief executive officer.
