POOLCORP Reports Record 2013

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POOLCORP, the largest distributor of swimming pool products in the United States, today announced full year 2013 results.

Net sales for the year ended December 31, 2013 increased 6% to a record high of $2.08 billion, compared to $1.95 billion in 2012. Base business sales increased 6%, including a 6% increase from swimming pool product sales. According to the company, base business sales growth reflected market growth, market share gains and the ongoing recovery of discretionary product sales, partially offset by weather driven declines in non-discretionary product sales in seasonal markets.

“In 2013, we surpassed $2.0 billion in sales, a fitting accomplishment for our milestone 20th year. We achieved record results, including diluted earnings per share of $2.05, despite persistent and challenging external factors. In our business, how we distribute products is as important as what products we distribute,” commented Manuel Perez de la Mesa, President and CEO.

Gross profit for the year ended December 31, 2013 reached a record $591.3 million, a 4% increase over gross profit of $567.4 million in 2012. Product, customer and geographic mix changes adversely impacted gross margin in 2013. Product mix changes reflect a shift in consumer spending to certain lower margin, discretionary products such as variable speed pumps, high efficiency heaters, LED lighting products, irrigation systems and landscape equipment, relative to higher margin, non-discretionary products generally associated with basic pool maintenance and repair activity, the company said. 

Currently, POOLCORP operates 321 sales centers in North America, Europe and South America, through which it distributes more than 160,000 national brand and private label products to roughly 80,000 wholesale customers.

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