6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
MRO distributor MSC Industrial Direct Co. Inc., Melville, NY, reported sales for the second quarter ended March 2, 2013, of $569.5 million, an increase of 1.2 percent compared to the same period a year earlier. Profit decreased 6.6 percent to $56.1 million.
The distributor reported reducing its operating expenses as a percent of sales in the first half, and reducing its inventories by $29 million.
Erik Gershwind, president and CEO, said, "We continue to pursue our strategic vision. First, we are penetrating our core metal-working business through investment in value-added programs and we will benefit disproportionately when the metalworking-related sectors of the economy strengthen. Second, we are expanding into product adjacencies with the purchase of BDNA."
For the first six months, sales were $1.1 billion, an increase of 5.5 percent compared to the prior-year period. Profit fell 0.5 percent to $119.3 million.