MSC Industrial sales climbed 13.1 percent
MSC Industrial Direct reported net sales for the fiscal third quarter 2014 were $720.5 million, an increase of 13.1% over the same quarter a year ago.
Net income for the quarter was $64.69 million, or $1.03 per diluted share, compared to $62.35 million, or 98 cents, in the same quarter a year ago.
"Our strategic growth programs continued to drive share gains during our March through May third fiscal quarter against the backdrop of continued improvement in overall market conditions," said Erik Gershwind, president and chief executive officer. "We would characterize the current demand environment as one of moderate growth, despite the soft pricing environment."
MSC expects net sales for fiscal fourth quarter 2014 to be between $718 million and $730 million. At the midpoint, average daily sales growth is expected to be 7.5 percent. The company expects adjusted diluted earnings per share for the fiscal fourth quarter 2014 to be between 98 cents and $1.02.
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.
