Acme United reports sales increase
| 24 April, 2018
Acme United Corporation has announced that net sales for the quarter ended March 31, 2018 were $31.7 million compared to $27.7 million in the first quarter of 2017, an increase of 14%.
Walter C. Johnsen, Chairman and CEO said, “We have just completed another record first quarter in sales and earnings. All of our major product groups and our international businesses contributed, with especially strong growth in our first aid and safety products, where we have been gaining industrial customers through our patented SmartCompliance System. Continuing the trend we have been seeing since 2013, our on-line sales were robust. This was a strong start for 2018, and we have many plans to continue introducing new products and applications that leverage our proprietary technologies, our diverse customer base and our global reach.”
For the first quarter of 2018, net sales in the U.S. segment increased 13% compared to the same period in 2017. The sales increase was mainly due to market share gains in first aid and safety, growth in Westcott office scissors, and strong performance from the Camillus, DMT, and Cuda knives and sharpening tools.
European net sales for the first quarter of 2018 increased 27% in U.S. dollars and 10% in local currency compared to the first quarter of 2017, mainly due to new customers in the office products channel, growth of DMT products, and strong e-commerce demand for these products.