8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported):  March 31, 2008

Commission file number 0-21513

DXP Enterprises, Inc.

(Exact name of registrant as specified in its charter)

Texas	76-0509661
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
7272 Pinemont, Houston, Texas 77040	(713) 996-4700
(Address of principal executive offices)	Registrant’s telephone number, including area code.

_________________________

Registrant’s telephone number, including area code:

(713) 996-4700

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02.  REGULATION FD DISCLOSURE

The following information is furnished pursuant to Regulation FD.

On May 12, 2008, DXP Enterprises, Inc., issued a press release announcing financial results for the quarterly period ended March 31, 2008, a copy of which is furnished as Exhibit 99.1 hereto, which is incorporated herein by reference.  Such exhibit (i) is furnished pursuant to Item 2.02 of Form 8-K, (ii) is not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and (iii) shall not be incorporated by reference into any previous or future filings made by or to be made by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS

(d)  Exhibits.

99.1                           Press Release dated May 12, 2008

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DXP ENTERPRISES, INC.

May 13, 2008                                                                                         By:  /s/Mac McConnell

Mac McConnell

Senior Vice President and

Chief Financial Officer

INDEX TO EXHIBITS

Introductory Note:                                           The following exhibit is furnished pursuant to Item 2.02 of Form 8-K and is not to be considered “filed” under the Exchange Act and shall not be incorporated by reference into any of the Company’s previous or future filings under the Securities Act or the Exchange Act.

Exhibit No.                                           Description

99.1                                                      Press Release dated May 13, 2008 regarding financial results for the

quarterly period ended March 31, 2008

EX-99.1

Exhibit 99.1                          News Release Contact:  Mac McConnell

Senior Vice President, Finance

713-996-4700

www.dxpe.com

DXP ENTERPRISES ANNOUNCES FIRST QUARTER RESULTS

SALES INCREASE 101.5% - NET INCOME INCREASES 45.9%

Houston, TX, -- May 12, 2008 -- DXP Enterprises, Inc. (NASDAQ: DXPE) today announced net income of $5,439,000 for the first quarter ended March 31, 2008, with diluted earnings per share of $.80 compared to net income of $3,727,000 and diluted earnings per share of $.65 for the first quarter of 2007.  Sales increased 101.5% to $168.5 million from $83.6 million for the first quarter of last year.  Sales by the four businesses acquired in 2007 and 2008 accounted for $73.6 million of the sales increase.  Excluding sales by the four acquired businesses, sales for the first quarter of 2008 increased 13.5% from the first quarter of 2007.  The sales increase is primarily due to a broad based increase in sales of pumps, bearings, safety products and mill supplies.

David R. Little, Chairman and Chief Executive Officer said, “I am pleased that the markets we serve and the execution of our growth strategies produced organic growth of 13.5%.  We recently have invested in the salespeople necessary to create twelve DXP Super Centers and we look forward to their top and bottom line growth in the future.  The execution and implementation of our acquisition strategies continues to be successful.  We are excited about the prospects for 2008 and our outlook continues to be strong.”

Mac McConnell, Senior Vice President and Chief Financial Officer said, “I am very pleased that Precision’s results improved to be accretive by approximately $0.07 per dilutive share in the first quarter of 2008.  In addition, I’m very pleased with the success of our latest acquisition, Rocky Mtn. Supply.”

DXP Enterprises, Inc. is a leading products and service distributor focused on adding value and total cost savings solutions to MRO and OEM customers in virtually every industry since 1908. DXP provides innovative pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer driven, creating competitive advantages for our customers.

DXP’s innovative pumping solutions provide engineering, fabrication and technical design to meet the capital equipment needs of its global customer base. DXP provides solutions by utilizing manufacturer authorized equipment and certified personnel. Pump packages require MRO and OEM equipment such as pumps, motors and valves, and consumable products. DXP leverages its MROP inventories and technical knowledge to lower the total cost and maintain the quality of the pump package.

SmartSource, a DXP integrated supply program, allows a more efficient way to manage the customer’s supply chain needs for MROP products. The program allows the customer to transfer all or part of its supply chain needs to DXP, so the customer can focus on its core business. SmartSource effectively lowers costs by outsourcing purchasing, accounting, and on-site supply management to DXP, which reduces the duplication of effort by the customer and supplier. DXP’s broad range of first-tier products provides an efficient measurable solution to reduce cost and streamline procurement and sourcing operations.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements.  Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking.  Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company.  These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. For more information, review the Company's filings with the Securities and Exchange Commission.

******

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

 (in thousands, except per share amounts)

	Three Months Ended
	March 31,
	2008	2007
Sales	$          168,499	$            83,631
Cost of sales	122,553	58,694
Gross profit	45,946	24,937
Selling, general and administrative expense	35,378	18,231
Operating income	10,568	6,706
Other income	13	18
Interest expense	(1,383)	(590)
Income before income taxes	9,198	6,134
Provision for income taxes	3,759	2,407
Net income	5,439	3,727
Preferred stock dividend	(23)	(23)
Net income attributable to common shareholders	$              5,416	$              3,704
Basic income per share	$                0.86	$                0.72
Weighted average common shares outstanding	6,323	5,128
Diluted income per share	$                0.80	$                0.65
Weighted average common and common    equivalent shares outstanding	6,835	5,758
See notes to condensed consolidated financial statements.

UNAUDITED CALCULATION OF EBITDA* (IN THOUSANDS)
	Three Months Ended March 31,
	2008	2007
Income before income taxes	$   9,198	$   6,134
Plus interest expense	1,383	590
Plus depreciation and amortization	2,209	428
EBITDA	$  12,790	$   7,152
*EBITDA – earnings before interest, taxes, depreciation and amortization.