DXP Enterprises Announces 2010 Third Quarter Results: EPS $0.36

DXP Enterprises, Inc. DXPE today announced net income of $5,345,000 for the third quarter ended September 30, 2010, with diluted earnings per share of $0.36 compared to net income of $2,684,000 and diluted earnings per share of $0.19 for the third quarter of 2009. Sales increased $28.8 million, or 20.1%, to approximately $172.2 million from $143.4 million for the same period in 2009. Net income for the third quarter of 2010 increased 16.6% from $4,584,000 for the second quarter of 2010. Sales for the third quarter of 2010 increased 3.0% compared to the second quarter of 2010. Diluted earnings per share for the third quarter of 2010 increased 16% compared to the second quarter of 2010. Net income for the nine months ended September 30, 2010 was $13,521,000, with diluted earnings per share of $0.93 compared to net income of $8,022,000 and diluted earnings per share of $0.57 for the first nine months of 2009. Sales for the nine months ended September 30, 2010 increased $41.1 million, or 9.2%, to approximately $486.5 million from $445.4 million for the same period in 2009.