Global Fastener News

Paulin 1Q Sales Edge Up

John Wolz

Sales gains in the industrial and hardware markets pushed sales up 3% at H Paulin & Co. Ltd. for the quarter ended March 31., 2002. But net income slid 9%
Sales totaled $27.6 million and net income was $694,000.
Selling, general and administrative expenses were up 8% due to technology upgrades, higher marketing expenses in hardware and increased delivery costs.
“Although economic conditions have improved since the second half of 2001, the uncertainties in the marketplace continue to be present,” president Richard Paulin reported to stockholders.
Toronto-based Paulin is expanding despite the “fragile marketplace,” he noted. Paulin is expanding its Cleveland hardware distribution facilities, which should add to revenue in the second half of the year. Paulin also is adding manufacturing capital equipment for sales programs later in the year. “Further facility improvements and new products should strengthen our long-term performance,” Paulin said. E-mail: paulin@hpaulin.com �2002 FastenerNews.com