Lawson Products Turns To Profit In Q4

(RTTNews) - Lawson Products Inc. (LAWS) reported that its net income for the fourth quarter of 2017 was $20.2 million or $2.21 per share compared to a net loss of $4.6 million, or $0.53 per share, for the same period a year ago. The earnings per share benefitted from re-establishing our U.S. deferred tax assets net of the impact of the Tax Cuts and Jobs Act. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share. Analysts' estimates typically exclude special items.

Net sales increased 19.8% to $80.6 million for the fourth quarter versus $67.3 million for the same period a year ago on one additional selling day in 2017. Sales per rep per day generated by the organic Lawson business increased 8.3% over the fourth quarter of 2016. Average daily sales grew 17.8% to $1.322 million in the recent quarter compared with $1.122 million a year earlier.

Fourth quarter sales benefitted from the Bolt Supply acquisition in the amount of $8.0 million along with continued growth in strategic customers, Kent Automotive and core accounts.