This Day On The Street
Continue to site
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

DXP Enterprises Announces 2013 Third Quarter Results

DXP Enterprises, Inc. (NASDAQ:DXPE) today announced net income of $16.4 million for the third quarter ended September 30, 2013, with diluted earnings per share of $1.07 compared to net income of $13.1 million and diluted earnings per share of $0.86 for the third quarter of 2012. Sales increased $39.8 million, or 13.7%, to approximately $329.7 million from $289.9 million for the same period in 2012. After excluding sales from acquisitions of $28.9 million, on a same store sales basis, sales for the third quarter of 2013 increased $10.9 million, or 3.8% from 2012 on a same store sales basis.

Net income for the nine months ended September 30, 2013 was $43.3 million, with diluted earnings per share of $2.84 compared to net income of $36.9 million and diluted earnings per share of $2.43 for the first nine months of 2012. Sales for the nine months ended September 30, 2013 increased $123.7 million, or 15.4%, to approximately $927.8 million from $804.1 million for the same period in 2012.

Net income for the third quarter sequentially increased 18.9% from $13.7 million to $16.4 million in the third quarter of 2013. Likewise, sales sequentially increased 7.1% from $307.9 million in the second quarter to $329.7 million in the third quarter.

David R. Little, Chairman and Chief Executive Officer remarked, “Our DXPeople continue to execute well, delivering solid revenue growth and margin improvement. We are pleased to report third quarter sales increases of 7% sequentially and 14% year over year. EBITDA margins continue to move in the right direction having improved 38 basis points since the beginning of the year. Strong execution enabled DXP to achieve solid results again this quarter. We believe our focus on growth, productivity and efficiency, combined with our optimism on the acquisition front, position us well for the balance of 2013 and beyond.”

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs