Posted October 20, 2011
WESCO International sales up 19.3%
WESCO International reported consolidated net sales of $1.5 billion for the third quarter of 2011, compared to $1.3 billion for the same period in 2010.
The 19.3% increase in sales includes positive impacts of approximately 6.9% from acquisitions and 1.1% from foreign exchange rates, resulting in organic sales growth of approximately 11.3%.
Net income of $53.9 million for the current quarter was up 60.1% from $33.7 million for the prior year quarter.
"We have now posted five consecutive quarters of double digit organic sales and backlog growth," said John J. Engel, chairman and CEO. "We also completed the acquisition of Brews Supply on October 3, our fourth acquisition since June of last year. These acquisitions are exceeding our expectations and have expanded our portfolio of value creation solutions and strengthened our business."
Sales for the first nine months of 2011 increased 21.5% to $4.5 billion.
