Global industrial company reports first quarter 2022 financial results

-record sales of $288.6 million increases 15%- -gross margin sets record for third consecutive quarter at 37.4%- -operating income increases to $29.5 million; operating margin of 10.2%- -board declares $0.18 dividend- port washington, ny / accesswire / may 3, 2022 / global industrial company (nyse:gic) today announced financial results for the first quarter ended march 31, 2022. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended march 31, 2022 2021 net sales $ 288.6 $ 251.1 gross profit $ 107.8 $ 77.3 gross margin 37.4 % 30.8 % operating income from continuing operations $ 29.5 $ 6.6 operating margin 10.2 % 2.6 % net income from continuing operations $ 21.8 $ 5.5 net income per diluted share from continuing operations $ 0.57 $ 0.14 net income from discontinued operations $ 0.2 $ 9.7 net income per diluted share from discontinued operations $ 0.01 $ 0.25 *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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