Global industrial company reports first quarter 2023 financial results

-sales of $273.8 million- -operating income of $17.8 million; operating margin of 6.5%- -board declares $0.20 dividend- port washington, ny / accesswire / may 2, 2023 / global industrial company (nyse:gic) today announced financial results for the first quarter ended march 31, 2023. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended march 31, 2023 2022 net sales $ 273.8 $ 288.6 gross profit $ 98.4 $ 107.8 gross margin 35.9 % 37.4 % operating income from continuing operations $ 17.8 $ 29.5 operating margin 6.5 % 10.2 % net income from continuing operations $ 13.3 $ 21.8 net income per diluted share from continuing operations $ 0.35 $ 0.57 net (loss) income from discontinued operations $ (0.1 ) $ 0.2 net (loss) income per diluted share from discontinued operations $ 0.00 $ 0.01 *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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