Hughes Supply reported an 11% sales increase but a decline in net income for the fiscal year ended Jan. 26, which it attributed partly to restructuring activities, including the write-off of its Internet venture, bestroute.com.
Daniel R. Burnette, 60, an active leader of the Plumbing-Heating-Cooling Contractors - National Association and the PHCC Educational Foundation, died Feb. 21.
Noland Co. reported net income of $9.3 million, or $2.55 per diluted share, for the fiscal year ended Dec. 31, an increase of 14.2% compared with $8.1 million, or $2.20 per share for 1999.
The Plumbing Manufacturers Institute is continuing to work toward building a coalition of support among trade associations and groups in favor of trade show consolidation.
Business News Publishing II, LLC, has acquired Supply House Times from Cahners Business Information. BNP is the owner of the country's leading PHC contractor magazine, Plumbing & Mechanical, which is reunited with Supply House Times after nearly 10 years of separation.
Slowing down its acquisitions program and heavily investing in information technology has strengthened Hughes Supply and better positioned it for future growth, said David Hughes, chairman/CEO.
Hughes Supply has acquired the remaining 51% interest of bestroute.com, an online distributor. Bestroute.com will operate as a subsidiary of Hughes Supply.
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