MSC Industrial Direct Sales Down 23.3% In 3Q
MSC Industrial Direct Co., Inc., Melville, NY, a distributor of metalworking and maintenance, repair and operations supplies
to industrial customers throughout the U.S., reported sales of $350.5 million for the third quarter ended May 30, 2009, a
decrease of 23.3% from the prior year. Profit declined 45.9% to $27.8 million.
For the first nine months of fiscal
2009, sales were $1.135 billion, down 14.7% from the first nine months of fiscal 2008. Profit fell 32% to
$99.1 million.
"While our performance in the fiscal third quarter was better than anticipated,
visibility remains limited as we continue to operate in one of the most severe economic downturns our industry
has ever experienced. Feedback from our customers indicates that market conditions have remained weak without
any ...
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MSC Industrial Direct Co., Inc., Melville, NY, a distributor of metalworking and maintenance, repair and operations supplies
to industrial customers throughout the U.S., reported sales of $350.5 million for the third quarter ended May 30, 2009, a
decrease of 23.3% from the prior year. Profit declined 45.9% to $27.8 million.
For the first nine months of fiscal
2009, sales were $1.135 billion, down 14.7% from the first nine months of fiscal 2008. Profit fell 32%
to $99.1 million.
"While our performance in the fiscal third quarter was better than
anticipated, visibility remains limited as we continue to operate in one of the most severe economic
downturns our industry has ever experienced. Feedback from our customers indicates that market conditions
have remained weak without any expected near-term improvement," said David Sandler, president and CEO. "As
a result, we are anticipating summer shutdowns that will be more prevalent and longer in duration than last year."
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