Reduced Restrictions Helps Lawson Products Sales

Lawson Products, Inc. had net sales of $90.3 million for the third quarter of 2020, an increase of 25.1 per cent compared to net sales of $72.1 million in the third quarter of 2019. The sequential sales growth was primarily driven by the company’s responsiveness to its customers' needs as demand began to improve with COVID-19 restrictions partially withdrawn in parts of the United States and Canada and Partsmaster sales of $5.4 million. Gross profit was $47.2 million in the quarter compared to $50.6 million in the year-ago period. Consolidated gross profit as a percentage of sales was 52.3 per cent compared to 53.4 per cent in the prior-year period. Net income was $1.7 million compared to $4.8 million last year.