Lawson Products Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $71,995,000 compared to $75,962,000 for the first quarter of 2012, the decrease was mainly driven by reduced sales coverage due to an 11% decline in the average number of sales representatives in the first quarter of 2013 compared to the prior year period. Loss from continuing operations before income taxes was $3,137,000 compared to $2,922,000 in the same period last year. Loss from continuing operations was $3,194,000 compared to $1,785,000 in the same period last year. Operating loss was $2,863,000 compared to $2,833,000 in the same period last year. Net loss was $3,223,000 or $0.37 per basic and diluted common share compared to $1,798,000 or $0.21 per basic and diluted common share in the prior year period. Adjusted non-GAAP operating income was $2,387,000 compared to $507,000 in the same period last year. Adjusted non-GAAP net loss per diluted share was $0.05. The decrease in Net Sales were mainly driven by reduced sales coverage due to an 11% decline in the average number of sales representatives in the first quarter of 2013 compared to the prior year period. The decrease was partially offset by an improvement in sales force productivity of 8.8% from a year ago. Lower government sales and one less selling day in the 2013 quarter also negatively impacted sales.

Lawson Products Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on Apr 25, 2013

Lawson Products Inc., Q1 2013 Earnings Call, Apr 25, 2013