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MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, NY, No. 11 on MDM's list of the top 40 industrial distributors, reported sales for its fiscal 2012 full year were up 16.5 percent to $2.36 billion. Average daily sales for the year were up 14.3 percent. Profit for the year was $259 million.
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Sales for the fourth quarter of fiscal 2012 were $635.3 million, an increase of 19.1 percent over the prior-year period. Average daily sales for the period grew 10.4 percent. Profit was $68.9 million.
"Despite an increasingly difficult demand environment, we delivered solid results in the fourth quarter and for the year,” said Erik Gershwind, president and COO. “I was encouraged by our gross margin performance, cost containment focus and our team's strong execution of the growth initiatives that will position us for the future.
"While visibility remains limited in an uncertain near-term environment, we are cautiously optimistic about an improved environment in 2013, as clarity replaces uncertainty. We remain confident in our march towards the revenue goal of $4 billion by 2016 and in our ability to take disproportionate market share in any economic environment."