Earnings are anounced April 24 and are forcast to be up 40%. Revenue should be up over 30%. Fast growing company that I think is a solid buy.
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HOUSTON, Apr 24, 2007 (BUSINESS WIRE) -- DXP Enterprises, Inc. (NASDAQ:DXPE) today announced net income of $3,727,000 for the first quarter ended March 31, 2007, with diluted earnings per share of $.65 compared to net income of $2,502,000 and diluted earnings per share of $.44 for the first quarter of 2006. Sales increased 33.8% to $83.6 million from $62.5 million for the first quarter of last year. Sales by the four businesses acquired in 2006 accounted for $10.2 million of the sales increase. Excluding sales by the four acquired businesses, sales for the first quarter of 2007 increased 17.5% from the first quarter of 2006. The sales increase is primarily due to a broad based increase in sales of pumps, bearings, safety products and mill supplies.
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Public offering at $47. I think they are about to make a good sized acquisition. With the price drop over the past couple of days its a strong buy at current prices!! (The $47 offering should put a floor at $47)
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So much for a floor at $47. Went to the low $42's but recovered nicely yesterday. Its down slightly today on low volume but I think its a strong buy at current levels!
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