Global industrial reports fourth quarter 2021 financial results

Record gross margin drives improved profitability sales of $262.0 million, down 4.3%; sales increase 3.5% on an average daily sales basis operating income of $26.1 million, up 23.7% from prior year; operating margin expands to 10.0% eps from continuing operations increases 26.2% to $0.53 board declares $0.18 dividend, an increase of 12.5% port washington, ny / accesswire / february 15, 2022 / global industrial company (nyse:gic) today announced financial results for the fourth quarter ended december 31, 2021. performance summary* (u.s. dollars in millions, except per share data) highlights quarter ended december 31, year ended december 31, 2021 2020 2021 2020 net sales $ 262.0 $ 273.9 $ 1,063.1 $ 1,029.0 gross profit $ 97.0 $ 93.1 $ 374.3 $ 356.9 gross margin 37.0 % 34.0 % 35.2 % 34.7 % operating income from continuing operations $ 26.1 $ 21.1 $ 88.0 $ 84.1 operating margin 10.0 % 7.7 % 8.3 % 8.2 % net income from continuing operations $ 20.3 $ 16.4 $ 70.1 $ 64.1 net income per diluted share from continuing operations $ 0.53 $ 0.42 $ 1.84 $ 1.68 net income (loss) from discontinued operations $ 22.7 $ (0.2) $ 33.2 $ 1.3 net income (loss) per diluted share from discontinued operations $ 0.60 $ (0.01) $ 0.87 $ 0.03 * 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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