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Net sales for the second quarter of 2008 were $367.4 million, an increase of 43.5% over the same quarter of 2007. Gross profit was $68.63 million, compared to $53.61 million in the same quarter of 2007.
For the six months ended June 30, 2008, net sales were $727.99 million, compared to $515.01 million in the same period of 2007. Gross profit was $139.02 million, compared to $105.69 million in the same period of 2007. Net income was $10.35 million, compared to $16.78 million in the same period of 2007.
Sam Reed, chairman of the board and CEO, said: "Our top line performance was very good as many of our key products showed strong year-over-year growth in both dollars and units. As expected, our margins were negatively affected by rising commodity and energy costs, but pricing plans put into place during the second quarter will help to drive margin growth over the second half of the year. We were especially pleased with the results from our new ED Smith acquisition, where sales volume grew by 7% from last year."
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