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Industrial distributor MSC Industrial Supply Co. (NYSE: MSM), Melville, NY, reported sales of $831.6 million for the fiscal first quarter of 2019, ended December 1, 2018, an 8.2 percent increase over the same period a year ago. Net income for the quarter rose 25 percent to $74.2 million, the company said.
President and CEO Erik Gershwind credited the strong economy for the results, citing growth with core customers and national accounts. He also pointed to the recent uncertainty clouding the economic horizon due to trade issues and the government shutdown. He said the company’s acquisition of AIS last spring is going according to plan and “delivering solid top line growth.”