Richelieu sees Q3 earnings jump

MONTREAL — Richelieu Hardware’s sales rose 12.5% in the third quarter, with net earnings per share up 17.7%. Sales to manufacturers totalled $143.8 million, compared with $126.2 million for the third quarter of 2013, an increase of $17.6 million or 14%. Sales to hardware retailers and renovation superstores amounted to $24 million, up 4.4% over $23 million for the corresponding quarter of 2013. The company recently closed acquisition of XM Export – Import Canada Inc., a distributor of specialty hardware, and signed an agreement in principle to acquire a distributor of specialty panels and hardware operating in the United States.