Waxman reports first half, second quarter results.(Waxman Industries Inc.)(Brief Article)
Supply House Times, March, 2000
Waxman Industries, a supplier of specialty plumbing and other products to the U.S. repair and remodeling market, reported net sales of $19.7 million for the second quarter ended Dec. 31, 1999, a 12% drop vs. $22.4 million for the same period in 1998, excluding U.S. Lock, which was sold effective Jan. 1, 1999. The decrease in net sales for the quarter was attributed to the loss of business with the now defunct Hechinger/Builders Square operations and weaker than anticipated net sales to retailers.
Six month net sales of $42.5 million were down 3.6% from $44.1 million for the same time last year. Waxman has a 44.3% ownership in Barnett, which is up for sale as part of a debt reduction agreement.
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