MSC Industrial Direct reported sales, including fasteners, increased 11.4% to $862.5 million in the second quarter of fiscal 2022, which ended February 26.

Income from operations nearly quadrupled to $97.2 million, with net income jumping 286% to $69.9 million in fiscal Q2. Operating margin improved to 11.3% from 3.6%.

“We achieved double-digit top-line growth despite Covid-related disruptions during the first two weeks of January,” stated CEO Erik Gershwind. “Gross margin countermeasures, including a late January price increase, are working well and give us confidence that we can keep gross margins flat or better for full year fiscal 2022 versus fiscal 2021.”

Sales during the first six months of fiscal 2022 grew 10.7% to $1.71 billion, with operating income more than doubling to $187.9 million. Six-month net income rose 140.5% to $136 million. Web: MSCdirect.com