Global industrial company reports third quarter 2023 financial results

Sales of $354.6 million, increase 18.8% operating income of $28.2 million; operating margin 8.0% board declares $0.20 dividend port washington, ny / accesswire / october 31, 2023 / global industrial company (nyse:gic) today announced financial results for the third quarter ended september 30, 2023. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended september 30, nine months ended september 30, 2023 2022 2023 2022 net sales $ 354.6 $ 298.5 $ 954.2 $ 905.6 gross profit $ 116.3 $ 106.6 $ 327.6 $ 327.4 gross margin 32.8 % 35.7 % 34.3 % 36.2 % operating income from continuing operations $ 28.2 $ 27.5 $ 75.1 $ 87.5 operating margin 8.0 % 9.2 % 7.9 % 9.7 % net income from continuing operations $ 20.7 $ 20.3 $ 55.5 $ 64.7 net income per diluted share from continuing operations $ 0.54 $ 0.53 $ 1.44 $ 1.69 net income (loss) from discontinued operations $ 0.0 $ (0.1 ) $ (0.1 ) $ 0.3 net income (loss) per diluted share from discontinued operations $ 0.00 $ 0.00 $ 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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