Lawson Products rises after higher Q1 profit, revenue

Distribution Solutions

28/04/2022 18:23

** Shares of Lawson Products  LAWS.O  up ~5.5% at $39.05 in
afternoon trade
    ** Co reports Q1 profit of 96 cents/shr vs 39 cents/shr last
year  urn:newsml:reuters.com:*:nASA038QQ
    ** Co's net sales in Q1 jumped 13.8% to $117.9 mln 
    ** LAWS says it continued to deliver in quarter despite
inflationary and supply chain challenges
    ** "We are taking the necessary actions to mitigate the
effects of the inflationary environment on our profitability,
including instituting price increases" - CFO Ron Knutson
    ** Shares down 28.7% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))