WESCO International earnings rise
WESCO International reported income of $68.9 million for the second quarter, up 5.5% from $65.3 million for the prior year quarter.
Net sales rose 5.9% to $2.0 billion. Organic sales increased 6.0%, acquisitions positively impacted sales by 1.6%, and foreign exchange negatively impacted sales by 1.7%.
"Our second quarter results reflect strong sales execution, along with improvement in our end markets and seasonal recovery from the severe winter weather conditions experienced earlier this year," said John J. Engel,chairman and chief executive officer.
"Sales in the U.S. were up 5%, sales in Canada were up 7% on a local currency basis, and sales for the rest of world were up over 13%."
For the first six months of the year, net sales increased 3.1% to $3.8 billion. Income for the six-month period was down 19.2% to $120.7 million.
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.
