MSC Industrial reported sales increased 2.9% to $703.8 million in the second quarter of fiscal 2017, which ended ended March 4, 2017.

Gross margin was 44.7%, a 40 basis point decline year-over-year.  Operating income gained 7.6% to $86.6 million, with an operating margin of 12.3%, a 50 basis point increase.  Net income grew 8.1% to $53.6 million.

“Most of our customers continue to express an improving outlook, particularly those in our core metalworking market. Our fiscal second quarter results reflected these developments,” stated CEO Erik Gershwind.

During the first half of fiscal 2017, sales were flat at $1.39 billion, with gross profit up 0.4% to $766.8 million and net income up 3.1% to $107.8 million.

Based on current market conditions, the company expects net sales for the third quarter of fiscal 2017 to be between $734 million and $748 million.  Web: mscdirect.com