Posted July 22, 2010
DXP Enterprises sales up 15.9 percent
DXP Enterprises announced net income of $4.5 million for the second quarter compared to $2.1 million for the second quarter of 2009.
Sales increased 15.9% to approximately $167.3 million from $144.4 million for the same period in 2009. Sales for the second quarter of 2010 increased 13.8% from $147.0 million for the first quarter of 2010.
Net income for the six months ended June 30 was $8.1 million compared to $5.3 million for the first half of 2009. Sales for the six months increased 4.1% to approximately $314.3 million from $302.0 million for the same period in 2009.
"We are pleased with our sequential growth from the first quarter to the second quarter and our operating leverage that resulted in a 27.6 percent increase in net income. As we continue to drive our sales and operational excellence programs we are optimistic that we can show continued top line and bottom line growth for the second half of 2010," said David R. Little, chairman and CEO.
