Distribution Solutions Group Inc. (NASDAQ:DSGR), Fort Worth, Texas, specialty MRO, OEM and industrial distributor, reported fourth-quarter sales for the period ending Dec. 31, 2023, were $405 million, up 23.2% from the prior quarter.
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The increase was primarily due to acquired revenue from Hisco. Organic sales were down 6%. The current-quarter decline was primarily due to continued softness in the technology end-market, delayed maintenance spend in the renewable end-market, and delayed capital spending in the current interest-rate sensitive environment, according to DSG.
Sales for the fiscal year 2023 increased to $1.6 billion, up 36.4% from the prior year. DSG reported a net loss of $8.9 million for the year.
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