5/16/2011 7:50:00 PM
HEADLINES
MSC INDUSTRIAL
MSC Industrial Direct reported sales rose 22.2% to $483.4 million in the second quarter of fiscal 2011, boosted by “significant” growth within its core customer base.
Operating income soared 61.6% to $80.6 million — or 16.7% of sales, while net income jumped 62% to $49.7 million.
Diluted earnings per share in the fiscal 2011 second quarter improved 62.5% to $0.78.
During the quarter, MSC completed the integration of Rutland Tool & Supply Co., which achieved $6.6 million in fiscal Q2 sales. Excluding acquisition and integration costs, Rutland Tool broke even for the period.
First half sales gained 22% to $956.2 million, while operating income increased 56% to $157.7 million — or 16.5% of net sales. First-half net income grew 56% to $97.2 million.
In fiscal 2010 full year sales, including fasteners, grew 13.6% to $1.69 billion, with operating income gaining 18% to $241.8 million and net income increasing 20% to $150.4 million.
Founded in 1941, Melville, NY-based MSC Industrial distributes 600,000 metalworking and MRO supplies. MSC offers 42,000 fastener products among its 590,000 industrial products from 3,000 suppliers.
Corporate Office: 75 Maxess Rd., Melville, NY 11747-3151. Tel: 516 812-2000 Web: mscdirect
CEO: David Sandler
Employees: 4,304
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