Grainger expects strong revenue growth in 2004

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Boston--Industrial products supply company W.W. Grainger told an analysts meeting Monday in Boston that it expects to boost revenue by 5% to 10% in 2004 by gaining market share. The forecast is also based on anticipated GDP and industrial production growth of 3% to 4% next year, the company said. “Today we’re here to tell you that we’re aggressively targeting growth,” said Richard L. Keyser, Grainger’s chairman-CEO, in an address at the meeting. Sales for the current year are expected to be flat compared with 2002, and Grainger said it expects its earning per share to meet the lower end of $2.43 to $2.51. The company blamed lower sales, start-up costs of entering new markets, and other one-time costs in the fourth quarter.

--Sean Callahan

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