DXP Enterprises Inc, USA

DXP Enterprises Inc, USA

COMPANY PROFILE DXP Enterprises Inc, USA Profile DXP Enterprises Inc’s main business is the distribution of maintenance, repair and operating (MRO) ...

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COMPANY PROFILE

DXP Enterprises Inc, USA Profile

DXP Enterprises Inc’s main business is the distribution of maintenance, repair and operating (MRO) products, equipment and services to industrial customers. The company has three business segments: Service Centers; Supply Chain Services; and Innovative Pumping Solutions. The Service Centers provide MRO products, equipment and integrated services, including technical expertise and logistics capabilities, to industrial customers. The Supply Chain Services segment manages all or part of DXP Enterprises’ customers’ supply chain, including inventory. DXP Enterprises’ Innovative Pumping Solutions segment fabricates and assembles custom-made integrated pump system packages. Pump products include a line of centrifugal pumps for transfer and process service applications, such as petrochemicals, refining and crude oil production; rotary gear pumps for low- to- medium pressure service applications, such as pumping lubricating oils and other viscous liquids; plunger and piston pumps for high-pressure service applications such as the disposal of produced water and crude oil pipeline service; and air-operated diaphragm pumps. The company also provides a range of pump accessories. DXP Enterprises’ common stock trades on the NASDAQ Global Market under the stock symbol DXPE. Analysis

Innovative Pumping Solutions’ 2012 sales increased by US$59.5 million, or 58.2%, on a year earlier. The sales increase reflected increased capital spending by oil and gas and mining customers. Operating income for the Innovative Pumping Solutions segment increased US$15.2 million, or 89.7%, primarily as a result of the significant increase in sales combined with an increased gross profit percentage.

COMMENT Acquisitions continue to be a key component of DXP Enterprises’ growth strategy. Already this year, DXP Enterprises has made two acquisitions within pumps with the purchase of US and Canadian pump distributors Alaska Pump & Supply Inc and National Process Equipment Inc. ■

Key Figures (US$ million) DXP Enterprises Inc Sales Of Which: Innovative Pumping Solutions

2012

2011

Year ended 31.12 2010

2009

2008

1097.1

807.0

656.2

583.2

736.9

161.8

102.3

77.0





Cost of Sales

778.0

575.2

467.8





Gross Profit

319.1

231.8

188.4

151.4

207.0

Selling, General & Admin Expense

228.6

176.3

151.3





Operating Income for Reportable Segments Of Which: Innovative Pumping Solutions

133.5

89.9

68.0





32.1

16.9

10.3





Operating Income/(Loss)

90.5

55.5

37.1

(49.3)

48.2

Income/(Loss) before Income Taxes

85.0

52.0

32.1

(54.5)

42.3

Net Income/(Loss)

51.0

31.4

19.4

(42.4)

25.9

5.1

1.6

1.2





0.3

0.3







Capital Expenditures Of Which: Innovative Pumping Solutions Contact Details

DXP Enterprises Inc Chairman, President and CEO: Senior Vice President/Innovative Pumping Solutions: Address:

David Little David Vinson 7272 Pinemont Houston Texas 77040 USA

Tel: +1 713 996 4700 Web: www.dxpe.com

Recent Events

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6

Pump Industry Analyst

August 2013