MSC posts 9.3 percent sales gain
MSC Industrial Supply posted net sales of $769 million for its fiscal 2018 second quarter, a gain of 9.3 percent from the same period last year.
Net income of $117.6 million, or $2.06 per diluted share, compared to $53.6 million, or 93 cents, in last year's second quarter.
"The manufacturing environment in the second fiscal quarter remained firm, and customer outlook remained positive. The pricing environment also continued to improve, and we implemented a moderate price increase in late January. As a result, we delivered improved gross margins, which along with productivity, resulted in strong incremental margins," said Erik Gershwind, president and chief executive officer.
The company expects net sales for the third quarter to be between $820 million and $835 million. At the midpoint, average daily sales are expected to increase roughly 11 percent compared to last year’s third quarter.
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.
