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WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, No. 2 on MDM’s list of top electrical distributors, reported sales for the third quarter of $1.6 billion, an increase of 4.8 percent over the same period a year ago. Organic sales increased 3 percent. Profit jumped to $63.4 million, a 17.7 percent increase.
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For the first nine months, sales were $4.9 billion, an increase of 8.8 percent year-over-year. Organic sales rose 6.4 percent. Profit for WESCO was 23.9 percent above the prior-year period, at $175.3 million.
“Driven by both gross margin expansion and operating cost leverage, operating margins expanded 40 basis points to reach 6.2 percent, their highest level since the economic downturn in 2008. In addition, we completed the acquisitions of Trydor Industries and Conney Safety, further expanding our portfolio of products and services,” John J. Engel, chairman and CEO, said.