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Global Industrial (NYSE:GIC) has been awarded the Great Place to Work® Certification for 2024. This recognition highlights the company's dedication to creating a positive work environment and fostering a culture of trust. According to the survey, 74% of employees believe Global Industrial is a great place to work, compared to 57% at typical U.S.-based companies. Additionally, 70% of associates report a high level of trust in the company, and over 80% feel welcomed, proud of their work, and believe in the ethical practices of management. CEO Barry Litwin emphasized the company's commitment to its employees as a key factor in its success.
Global Industrial (NYSE:GIC) has launched its largest air scrubber and negative air machine to date, capable of filtering, scrubbing, and cleaning up to 4.7 million cubic feet of air per day. This new product, part of the 'Made To Exceed' line, is designed for optimal air quality with a 3300 CFM airflow and HEPA filtration. It's powered by a standard 115-volt outlet, is portable, and emits a low noise level of 75 decibels. The unit can be tripled in capacity by plugging three units into one outlet. It features a two-stage filtration system, steel housing for durability, and can be used in facilities requiring ducting options.
Global Industrial Company (NYSE: GIC) reported first-quarter 2024 financial results with sales of $323.4 million, an 18.1% increase from the previous year. Operating income was $17.4 million, with a 5.4% operating margin. The company declared a $0.25 dividend. Gross profit was $110.9 million, with a gross margin of 34.3%. Net income from continuing operations was $13.1 million, with a diluted earnings per share of $0.34.