DXPE: DXP Beats on Solid Gross Margins
Small Cap Watch List (Track at Marketocracy) member DXP Enterprises (DXPE) Announced First Quarter Results:
DXP Enterprises, Inc. today announced net income of $3,727,000 for the first quarter ended March 31, 2007, with diluted earnings per share of $.65 compared to net income of $2,502,000 and diluted earnings per share of $.44 for the first quarter of 2006. Sales increased 33.8% to $83.6 million from $62.5 million for the first quarter of last year. Sales by the four businesses acquired in 2006 accounted for $10.2 million of the sales increase. Excluding sales by the four acquired businesses, sales for the first quarter of 2007 increased 17.5% from the first quarter of 2006.
Analysts were estimating the company would earn $0.61 per share on sales of $81 million. On the conference call, the company discussed their strategy to differentiate between customers who need higher-service immediate availability (at higher cost) and those who want a managed B2B service. New software, which was originally scheduled to be operating already but which is now expected to go live during the current quarter, will help.
Like this article? Why not try out:
