Posted July 30, 2010
Interline Brands sales up slightly
Interline Brands reported sales for the second quarter of 2010 increased 0.1% to $270.2 million compared to $269.9 million for the second quarter of 2009.
Earnings per diluted share were 27 cents, an increase of 35% compared to 20 cents for the same period last year.
Interline's facilities maintenance end-market, which comprised 74% of sales, declined 0.7% during the second quarter. The professional contractor end-market, which comprised 15% of sales, increased 1.1% for the quarter. The specialty distributor end-market, which comprised 11% of sales, increased 3.2% for the quarter.
"Although not broad-based, certain markets returned to modest growth this quarter - including the multi-family housing, professional contractor, and specialty distributor markets. Importantly, within multi-family housing we were pleased to see an improving renovation environment, which was adversely impacted during the height of the economic crisis," said Michael J. Grebe, chairman and CEO.
Gross profit increased $3.3 million, or 3.3%, to $101.6 million for the second quarter of 2010, compared to $98.3 million for the second quarter of 2009.
Sales for the six months ended June 25 were $515.4 million, a 2.2% decrease over sales of $526.7 million in the comparable 2009 period.
