Global industrial reports fourth quarter and record full year 2022 financial results

-fourth quarter sales of $260.5 million, down 0.6%; operating income of $17.7 million and operating margin of 6.8%- -full year sales of $1.17 billion, up 9.7%; operating income of $105.2 million and operating margin of 9.0%- -board declares $0.20 dividend, an increase of 11.1%- port washington, ny / accesswire / february 21, 2023 / global industrial company (nyse:gic) today announced financial results for the fourth quarter ended december 31, 2022. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended december 31, year ended december 31, 2022 2021 2022 2021 net sales $ 260.5 $ 262.0 $ 1,166.1 $ 1,063.1 gross profit $ 93.8 $ 97.0 $ 421.2 $ 374.3 gross margin 36.0 % 37.0 % 36.1 % 35.2 % operating income from continuing operations $ 17.7 $ 26.1 $ 105.2 $ 88.0 operating margin 6.8 % 10.0 % 9.0 % 8.3 % net income from continuing operations $ 13.4 $ 20.3 $ 78.1 $ 70.1 net income per diluted share from continuing operations $ 0.35 $ 0.53 $ 2.04 $ 1.84 net income from discontinued operations $ 0.4 $ 22.7 $ 0.7 $ 33.2 net income per diluted share from discontinued operations $ 0.01 $ 0.60 $ 0.02 $ 0.87 *global industrial company manages its business and reports using a 52-53 week fiscal year that ends at midnight on the saturday closest to december 31.
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