This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

DXP Enterprises Announces 2012 Fourth Quarter And Year End Results

DXP Enterprises, Inc. (NASDAQ:DXPE) today announced that for the fourth quarter ended December 31, 2012 it earned net income of $14.1 million, or $0.92 per fully diluted share. Sequentially, fully diluted earnings per share improved 7.0% from $0.86 per fully diluted share, or $13.1 million in net income for the third quarter ended September 30, 2012. Compared to fourth quarter 2011 earnings of $9.2 million or $0.61 per fully diluted share, fourth quarter 2012 fully diluted earnings per share improved 50.8%.

For the year ended December 31, 2012, DXP reported net income of $51.0 million, with fully diluted EPS of $3.35 compared to year end December 31, 2011 net income of $31.4 million, with EPS of $2.08 for an improvement of $19.5 million in net income or 62.1% per fully diluted share.

Sales for the fourth quarter of 2012 increased $74.6 million, or 34.2% to approximately $293.0 million from $218.4 million for the same period in 2011.

For the year ended December 31, 2012, DXP reported a sales increase of $290.1 million, or 35.9% to approximately $1,097.1 million from $807.0 million for 2011.

David R. Little, Chairman and Chief Executive Officer remarked, “We achieved outstanding results in 2012 and accomplished our goals, achieving sales of $1.1 billion and EBITDA margins of 9.9%. I would like to thank our ‘DXPeople’, as they continue to be the experts in the market while making DXP a fun place to work. We again showed we can deliver consistent organic results in a see-saw market. The execution of our strategy led to a solid year of top-line sales growth, year-over-year margin expansion, solid earnings improvement, accelerated acquisition activity and strong cash flow performance.

“All three segments grew revenue and profits. Innovative Pumping Solutions lead the way again with 58% sales growth and 20% operating income margins. DXP Service Centers experienced 39% sales growth with 11% operating income margins. DXP Supply Chain Services finished with 8% sales growth and a significant improvement in operating income margins to 8%. We grew EBITDA margins from 8.1% in 2011 to 9.9% and we feel there is still room for additional margin improvement as we continue to find ways to instill pricing discipline. We completed seven strategic acquisitions in 2012, including establishing a meaningful presence in Canada. Total employees increased from approximately 2,100 to 2,817.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs