Net sales for the year ended December 31, 2012 increased 9 percent to a record high of $1.95 billion, compared to $1.79 billion in 2011. Base business sales increased 7 percent, including 7 percent growth on the swimming pool side of the business. Base business sales growth was driven by market share gains, continued improvement in consumer discretionary expenditures and some price inflation, partially offset by unfavorable currency fluctuations of approximately 1 percent.
Net sales for the seasonally slow fourth quarter increased 13 percent to $306.8 million compared to the fourth quarter of 2011. Base business sales improved 12 percent in the quarter compared to the same period in 2011. Gross margin declined 90 basis points to 29.0 percent in the fourth quarter of 2012.
"Our 2012 results speak volumes about the talent and commitment that exist throughout our company. We are excited about closing the year strong and creating significant momentum heading into 2013, which marks our 20th year as the value added distribution company we are today. For fiscal 2013, we expect earnings per diluted share will be approximately $2.13 to $2.23. This range reflects our expectations for sales growth in the mid-single digits and 15 percent to 20 percent growth from adjusted 2012 diluted EPS," said Perez de la Mesa.
POOLCORP is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOLCORP operates 312 sales centers in North America and Europe, through which it distributes more than 160,000 national brand and private label products to roughly 80,000 wholesale customers. For more information, please visit www.poolcorp.com.
