MSC Industrial Sales Grow 35.9% in 1Q
January 4, 2007MSC Industrial Direct Inc., Melville, NY, distributor of MRO supplies to industrial customers, reported sales of $402 million for the first quarter 2007, an increase of 35.9% from the same period in fiscal 2006. Profit increased 26.2% to $40.3 million from the year-ago period.
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J & L Industrial Supply, purchased from Kennametal last year, accounted for two-thirds of the growth. CEO David Sandler said the integration of J & L is going as planned, and that MSC should be able to generate the forecasted $20 million in margin improvements and cost savings that was originally anticipated.
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A conference call regarding the first quarter results and current operations is available at ;
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MSC Industrial Direct Inc., Melville, NY, distributor of MRO supplies to industrial customers, reported sales of $402 million for the first quarter 2007, an increase of 35.9% from the same period in fiscal 2006. Profit increased 26.2% to $40.3 million from the year-ago period.
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J & L Industrial Supply, purchased from Kennametal last year, accounted for two-thirds of the growth. CEO David Sandler said the integration of J & L is going as planned, and that MSC should be able to generate the forecasted $20 million in margin improvements and cost savings that was originally anticipated.
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A conference call regarding the first quarter results and current operations is available at ; http://www.mscdirect.com .
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MSC Industrial Direct distributes more than 500,000 industrial products from 2,100 suppliers to 348,000 customers. It had sales of $1.32 billion in fiscal 2006.
Related Links:
MSC, Wesco on Recent & Pending Acquisitions
MSC Industrial Posts 19.8% Sales Jump Over 2005
MSC to Buy Kennametal's J & L Unit for $349 Million (Updated)
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