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October 24, 2007

MSC Sales Grow 28% to $1.7 billion in Fiscal 2007

MSC Industrial Direct Inc., Melville, NY, distributor of MRO supplies to industrial customers in the U.S., reported sales in fiscal year 2007 ended Sept. 1 were $1.7 billion, up 28.1%. J&L Industrial Supply was acquired in June 2006, and contributed $218.9 million for the first three quarters of fiscal 2007.
 
Profit for the year was $173.9 million, an increase of 27.5%.
 
Sales for the fourth quarter were $450.5 million, up 16.7% from the prior-year period. Profit was up 39% to $47.4 million.
 
The fourth quarter marked the completion of MSC's integration of J&L. MSC has completed the consolidation of J&L's distribution centers and support functions into MSC. Sales force training program has seen "good initial progress" as the company looks to leverage the cross-selling opportunities that exist between the two customer bases.
 
MSC reported that it continues to hear optimism from customer, but the optimism has been tempered by concern over weak macroeconomic indicators and high energy costs. Customer orders are steady.
 
More details here.

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