WESCO sales up 13.2%
WESCO International reported second quarter sales were $1.9 billion, up 13.2% from $1.7 billion for the second quarter of 2012.
Acquisitions positively impacted sales by 14.6%, foreign exchange negatively impacted sales by 0.2%, and organic sales declined 1.2%.
Net income of $65.3 million was up 10.9% from $58.9 million for the prior year quarter. Earnings per diluted share were $1.25 per share, up 8.7% from $1.15 compared to the second quarter of 2012.
"While organic sales declined 1% versus prior year, business momentum improved through the quarter with June sales per workday up 2%, driven by growth in Lighting and continued strength in Utility," said John J. Engel, chairman and chief executive officer.
Net sales for the first six months were $3.7 billion, 12.9% higher than $3.3 billion for the first six months of 2012. The increase includes a 15.3% positive impact from acquisitions, a 2.3% negative impact from organic sales, and a negative 0.1% exchange rate impact.
Net income of $149.3 million for the first six months of 2013 was up 33.5% from $111.9 million for the first six months of 2012.
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.
