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Lawson Products Q1 Profit Surges; Results Beat View - Quick Facts

Lawson Products Inc. (LAWS) on Thursday reported that its net income for the first quarter was $4.1 million or $0.44 per share, up sharply from $1.2 million or $0.13 per share for the same period a year ago.

Excluding stock-based compensation and severance, adjusted earnings for the quarter were $0.48 per share, compared to $0.25 per share in the year-ago quarter. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share. Analysts' estimates typically exclude special items.

Total revenue for the quarter increased 8.2 percent to $91.3 million from $84.4 million in the year-ago period. Analysts had a consensus revenue estimate of $89.76 million.

The company noted that the quarter's performance was driven by increased Lawson sales rep productivity, sales growth at Bolt Supply, and the inclusion of Screw Products.

Average daily sales for the quarter grew 8.2 percent to $1.45 million from $1.34 million a year earlier.

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