MSC Industrial’s Q3 sales rise 6.1 percent
Industrial Distribution staff -- Industrial Distribution, 7/1/2008 7:38:00 AM
Net sales for MSC Industrial Direct in the 2008 third quarter rose 6.1 percent to $457.2 million—up from $431.1 million in the third quarter a year ago.For 2008 to date, net sales were up 7.6 percent to $1.33 billion. In 2007, net sales were $1.2 billion through Q3.
The MRO distributor’s net income in the third quarter was $51.4 million, a 12.3 percent increase from $45.8 million in the same period a year ago.
“MSC continued to execute its operating strategy and generate solid performance in the third quarter,” said David Sandler, president and CEO. “Our customers have become more cautious about the outlook for their businesses, as the effect of a slowing economy is increasingly felt across our customer base .... We believe we are well positioned to take share during these times and deliver significant revenue growth when the business environment improves.”
MSC ranked 12th on Industrial Distribution’s 2008 Big 50 report with 2007 sales of $1.69 billion.
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