Hawkins bolsters bottom line

Minneapolis-headquartered Hawkins has posted third quarter net income of $5.6m, up 30.5 per cent on the $4.3m announced this time last year. At the same time, sales rose 19.2 per cent year-on-year from $70.6m to $84.2m. For the nine months ended January 1, it reported sales of $260.6m and a net income of $19.2m compared to respective prior year figures of $215.7m and $18.4m. 

"We saw product margins improve in our Water Treatment segment this past quarter, allowing this group to report higher earnings than the same quarter last year," says CEO Patrick H Hawkins. "This segment continues to focus on its geographic growth strategy and we are very pleased with how our newer branches are progressing."

"Business conditions continue to be challenging in our Industrial segment, resulting in lower per-unit margins due to ongoing pricing pressures for the segment," he continues. "Construction has begun on our new facility in Rosemount, Minnesota. While our initial focus will be to relocate production from flood-prone sites we currently operate, we are enthusiastic about the additional capacity and capabilities this site will provide us for new business opportunities."

www.hawkinsinc.com