Richelieu posts record Q4 sales, but profits slip

MONTREAL — Richelieu Hardware reported Q4 sales of $258.5 million, an increase of 3.3% from the previous year, ending the company’s 50th year in business by topping $1 billion in sales—a 6.6% increase over 2017. Diluted net earnings per share for the quarter came in at $0.32. In Canada, the company logged sales of $174.6 million, an increase of $100,000. Net earnings fell by 7.3% year-over-year to $18.5 million. For the full fiscal year, profits edged up 0.1% from 2017 to $67.8 million.

During 2018, Richelieu acquired two companies, Cabinet & Top Supply in Florida and Chair City Supply in North Carolina.