Posted November 4, 2011
Interline Brands sales up 19.7 percent
Interline Brands reported third quarter sales were $331.3 million, a 19.7% increase compared to $276.8 million in the comparable 2010 period.
On an organic basis, sales increased 3.7% for the quarter. Interline's facilities maintenance end-market, which comprised 77% of sales, increased 25.6% during the third quarter, and 3.5% on an organic basis. The professional contractor end-market, which comprised 13% of sales, increased 6.6% for the quarter. The specialty distributor end-market, which comprised 10% of sales, increased 0.5% for the quarter.
Third quarter 2011 operating income of $26.2 million, or 7.9% of sales, increased 14.4% compared to $22.9 million, or 8.3% of sales, in the third quarter of 2010.
"Our results for the third quarter reflect the relative stability of our end-markets and solid execution. Our efforts to build a premier, broad-line MRO distributor continue to gain momentum, complemented by the prudent investments we are making in capabilities that are specifically designed to improve the customer experience and generate incremental revenue. In addition, our recent acquisitions are delivering solid results and additional operating benefits," said Michael J. Grebe, chairman and chief executive officer.
Nine-month sales were $946.4 million, a 19.5% increase over $792.2 million in the comparable 2010 period.
