Lawson Products Announces First Quarter 2021 Results

Rhea-AI Summary

Lawson Products, Inc. (NASDAQ: LAWS) reported its Q1 2021 financial results, highlighting a significant 26% increase in net sales to $31.8 million compared to Q1 2020. The company experienced a net loss of $0.8 million, though this represented an improvement from the $1.4 million loss in Q1 2020. The gross profit margin rose to 34.5%, enhancing from 31.7% year-over-year. Lawson's operating expenses increased by 19% due to investments in sales and marketing. Management remains optimistic about growth opportunities moving forward.

Positive

• Net sales increased by 26% year-over-year to $31.8 million.
• Gross profit margin improved to 34.5% from 31.7% year-over-year.
• Improved net loss from $1.4 million in Q1 2020 to $0.8 million in Q1 2021.

Negative

• Operating expenses increased by 19%, impacting profitability.

Lawson Products, Inc. (NASDAQ: LAWS) (“Lawson” or the "Company"), a leading distributor of products and services to the MRO marketplace, today announced results for the first quarter ended March 31, 2021.

First Quarter Summary Financial Highlights

($ in millions, except earnings per share data)

Q1 2021

Q4 2020

Q1 2020

Change Q1 2021 vs Q4 2020

Change Q1 2021 vs Q1 2020

Net sales

FAQ

What were the net sales for Lawson Products in Q1 2021?

Lawson Products reported net sales of $31.8 million for Q1 2021.

How did Lawson Products' net loss change in Q1 2021 compared to Q1 2020?

In Q1 2021, Lawson Products recorded a net loss of $0.8 million, an improvement from the $1.4 million loss in Q1 2020.

What was the gross profit margin for Lawson Products in Q1 2021?

The gross profit margin for Lawson Products in Q1 2021 was 34.5%.

How do operating expenses in Q1 2021 compare to the previous year?

Operating expenses in Q1 2021 increased by 19% compared to Q1 2020.