WESCO International sales up 3.5%
WESCO International said its net sales were $1.64 billion for the fourth quarter of 2012, 3.5% higher than the same period last year.
Excluding the impact of acquisitions and foreign exchange, organic sales decreased by 1.3%. Sequentially, fourth quarter 2012 sales decreased 0.7% compared to the third quarter.
Net income of $48.6 million for the current quarter was down 11.3% from $54.8 million for the prior year quarter.
For the full year, net sales were $6.57 billion, a 7.4% increase over $6.12 billion the previous year. Net income of $223.9 million for the full year was up 14.1% from $196.3 million for the prior year.
"Our fourth quarter results reflect solid execution in a challenging economic environment and a continuation of the market trends experienced in the third quarter," said John J. Engel, chairman and chief executive officer. "In addition, we were pleased to complete the acquisition of EECOL Electric in mid-December, which strengthens our Canadian operations and establishes a solid foundation for WESCO in South America."
WESCO is a Pittsburgh-based distributor of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
