NEW YORK (TheStreet) -- DXP Enterprises Inc. (DXPE) reported a rise in its third quarter 2014 net income to $17.6 million, or $1.14 per diluted share, compared to $16.4 million, or $1.07 per diluted share for the same period last year.
The company, which distributes maintenance, repair, and operating products, equipment, and service to industrial customers, said sales for the most recent quarter grew by 17.4% to $387.1 million versus $329.7 million for the 2013 third quarter.
Analysts expected DXP Enterprises to post earnings of $1.10 per share and revenue of $397.2 million for the latest quarter.
"During the third quarter, we continued to have strong organic growth within supply chain services, slight organic growth in service centers and a small decline in innovative pumping solutions. Profitable growth remains a primary focus, including M&A opportunities and organic initiatives, as we position DXP to deliver and drive increased shareholder value," said DXP Enterprises CEO David Little.
Shares of DXP Enterprises are lower by 0.39% to $64.25 in after-hours trading on Monday.
Separately, TheStreet Ratings team rates DXP ENTERPRISES INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DXP ENTERPRISES INC (DXPE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins."