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BRIEF-P&F Industries elects not to renew supply agreement with Sears
November 9, 2017 / 1:16 PM / a month ago

BRIEF-P&F Industries elects not to renew supply agreement with Sears

Nov 9 (Reuters) - P&F Industries Inc:

* P&F Industries, Inc reports results for the three and nine-month periods ended September 30, 2017

* P&F Industries, Inc - ‍reporting Q3 2017 revenue from continuing operations of $15.8 million compared to $14.6 million

* P&F Industries, Inc - ‍elected not to renew supply agreement with sears, which expired on september 30, 2017​

* p&f industries inc - ‍there is no Sear’s inventory exposure at September 30, 2017​

* P&F Industries, Inc - ‍believe all accounts receivable attributable to sears, about $1.1 million at sept. 30, 2017, should be collected by Dec. 31, 2017​

* P&F Industries, Inc - ‍at present time, there can be no assurance that co will fully recover all accounts receivable attributable to sears​

* P&F Industries, Inc - qtrly ‍automotive revenue down due to 2 major customers who are currently in process of re-balancing pneumatic hand tool inventory​ Source text for Eikon: Further company coverage:

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