Acme United has reported a 15% increase in sales in the second quarter to $27.6 million. The increase in sales was primarily due to increased sales of Camillus knives, iPoint pencil sharpeners, paper trimmers and first aid products.
Net sales for the six months ended June 30, 2012 in the U.S. segment increased 21% compared to the same period in 2011, but in Europe decreased 21% in U.S. dollars and 11% in local currency compared to the same period in 2011 due to the loss of a large customer as a result of their financial troubles.
Walter C. Johnsen, Chairman and CEO said: "I am very pleased with the Company's performance, which has just recorded its highest quarterly sales and earnings in its history. Our Westcott, Clauss, Camillus, Physicians Care, and Pac-Kit brands each had record quarterly sales. In addition, our back-to-school sales continue to be strong."
Johnsen added that The C-Thru Ruler product family has now been integrated into Acme United's operation and that he looks forward to its contribution to earnings in the third quarter and going forward.