Global industrial company reports record second quarter 2022 financial results

-record sales of $318.5 million increases approximately 17%- -operating income increases 23.5% to $30.5 million; operating margin of 9.6%- -board declares $0.18 dividend- port washington, ny / accesswire / august 2, 2022 / global industrial company (nyse:gic) today announced financial results for the second quarter ended june 30, 2022. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended june 30, six months ended june 30, 2022 2021 2022 2021 net sales $ 318.5 $ 272.6 $ 607.1 $ 523.7 gross profit $ 113.0 $ 98.0 $ 220.8 $ 175.3 gross margin 35.5 % 36.0 % 36.4 % 33.5 % operating income from continuing operations $ 30.5 $ 24.7 $ 60.0 $ 31.3 operating margin 9.6 % 9.1 % 9.9 % 6.0 % net income from continuing operations $ 22.6 $ 21.1 $ 44.4 $ 26.6 net income per diluted share from continuing operations $ 0.59 $ 0.55 $ 1.16 $ 0.70 net income from discontinued operations $ 0.2 $ 0.9 $ 0.4 $ 10.6 net income per diluted share from discontinued operations $ 0.01 $ 0.02 $ 0.01 $ 0.28 *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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