Acquisition Boosts Lawson Sales

Lawson Products, Inc. had net sales of $103.6 million for the first quarter of 2021, an increase of 13.8 per cent compared to sales of $91 million in the first quarter of 2020. Partsmaster, an MRO company it acquired in September 2020, contributed $15.7 million in sales in the first quarter. Lawson sales, excluding Partsmaster, have continued to strengthen and are running at approximately 96 per cent of pre-pandemic levels. Gross profit increased $5.6 million to $54.6 million in the first quarter of 2021 compared to $48.9 million a year ago on higher sales. Net income was $3.6 million versus $12.5 million.