Net income for the nine-month period was positively impacted by higher sales, partially offset by increased expenses, principally Selling, General, and Administrative (SG&A) expenses related to consultant and contractor fees for system enhancements and the acquisition of Trumark, which were augmented by growth in sales and support personnel. SG&A expenses, as a percentage of sales, decreased for both the quarter, 14.4% this year versus 18.1% in the prior year, and nine months, 15.1% this year compared with 16.4% last year.
Chief Executive Officer, John R. Hawkins, commented, "Hawkins' sales continue to grow. However, increased material costs have resulted in continuing pressure on our margins. The success that we have generated thus far in fiscal 2008, along with the investments we are making to strengthen both Hawkins' infrastructure and competitive position, should bode well for our future. In January of 2008, two new Water Treatment sales and service offices were established in Missouri and Kansas, further expanding Hawkins' territory and creating new business opportunities."
Hawkins, Inc. provides a full range of bulk industrial products complemented with the technical competence and innovation to formulate and blend specialty chemicals. The Company sells and services related products and equipment to safely dispense chemicals in highly controlled environments.
Hawkins serves customers in a wide range of industries, including chemical processing, electronics, energy, environmental services, food processing, metal finishing, pharmaceutical, medical devices, pulp and paper, and water treatment.
Hawkins is headquartered in Minneapolis, Minnesota. The Company
operates eighteen facilities in Iowa, Illinois, Kansas, Minnesota,
Missouri, Montana, Nebraska, New Jersey, South and North Dakota and
Wisconsin and servic
|SOURCE Hawkins, Inc.|
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