Global industrial company reports second quarter 2023 financial results

-sales of $325.8 million, increase 2.3%- -operating income of $29.1 million; operating margin 8.9%- -board declares $0.20 dividend- port washington, ny / accesswire / august 1, 2023 / global industrial company (nyse:gic) today announced financial results for the second quarter ended june 30, 2023. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended june 30, six months ended june 30, 2023 2022 2023 2022 net sales $ 325.8 $ 318.5 $ 599.6 $ 607.1 gross profit $ 112.9 $ 113.0 $ 211.3 $ 220.8 gross margin 34.7% 35.5% 35.2% 36.4% operating income from continuing operations $ 29.1 $ 30.5 $ 46.9 $ 60.0 operating margin 8.9% 9.6% 7.8% 9.9% net income from continuing operations $ 21.5 $ 22.6 $ 34.8 $ 44.4 net income per diluted share from continuing operations $ 0.56 $ 0.59 $ 0.91 $ 1.16 net income (loss) from discontinued operations $ 0.0 $ 0.2 $ (0.1) $ 0.4 net income (loss) per diluted share from discontinued operations $ 0.00 $ 0.01 $ 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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