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DXP Enterprises' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: DXPE

Sales for the second quarter increased 32.5% to $261.9 million from the second quarter of 2011. After excluding second quarter 2012 sales of $39 million for businesses acquired in 2011 and 2012, sales for the second quarter increased 12.8% on a same-store sales basis.

Sales for Supply Chain Services increased 17.2% to $42.6 million, compared to $36.4 million for the 2011 second quarter. Excluding second quarter 2012 SCS segment sales of $4.4 million for acquired businesses SCS segment sales for the second quarter 2012 increased to 5% from 2011 on a same-store sales basis. Sales of Innovative Pumping Solutions products increased 61.3% to $35.2 million compared to $21.8 million for the 2011 second quarter.

Sales by our Service Centers segment increased $44.6 million to $184.1 million compared to $139.5 million of sales for the second quarter of 2011. After excluding 2012 Service Centers segment sales of $34.5 million for businesses acquired in 2011 and 2012, Service Centers segment sales for the second quarter of 2012 increased 7.2% from the second quarter of 2011 on a same-store sales basis.

When compared to the first quarter of 2012, sales for the second quarter of 2012 increased 3.8% after excluding $6.9 million of sales for businesses acquired in 2012 on a same-store sales basis. Sales for the second quarter increased 1.1% from the first quarter. This increase occurred despite the 3.1% decrease in the number of business days in the second quarter compared to the first quarter.

Second quarter 2012 sales for Supply Chain Services increased 12.8% compared to the first quarter of 2012. Second quarter 2012 sales of Innovative Pumping Solutions products decreased 10.8% compared to the first quarter of 2012. Second quarter 2012 sales by our Service Centers segment increased 5.2% compared to the first quarter of 2012.

After excluding $6.9 million of Service Centers sales for businesses acquired in 2012 on a same-store basis, Service Centers segment sales for the second quarter increased 1.2% from the first quarter of 2012.

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