Lawson Sees Improved Business Conditions

Lawson Products, Inc. had net sales of $105.6 million for the third quarter of 2021, an increase of 16.9 per cent compared to net sales of $90.3 million in the third quarter of 2020. These results were achieved through both improved business conditions and price actions within the Lawson MRO and the Bolt Supply House businesses. Gross profit increased to $56 million in the quarter compared to $47.2 million in the year-ago quarter, primarily driven by top line revenue growth. Gross margin improved to 53.1 per cent compared to 52.3 per cent last year. Net income was $3.7 million compared to net income of $1.7 million for the year-ago quarter. Adjusted net income was $6 million compared to $5.8 million.