DXP Enterprises Sales Fall 14.9% in 1Q-Bearing News

DXP Enterprises, Houston, TX, reported sales fell 6.5% to $157.6 million for the first quarter ended March 31, 2009. Excluding sales by three acquired businesses, sales for the first quarter of 2009 decreased 14.9% from the first quarter of 2008 on a same-store sales basis. Profit was $3.17 million, down from $5.4 million in the same period a year ago. DXP attributed the sales decrease to a broad-based decrease in sales of pumps, bearings, safety products and mill supplies, due to a general decline in the economy.

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