MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, NY, a distributor of metalworking and MRO supplies, reported sales for the fiscal third quarter ended May 31 of $720.5 million, up 13.1 percent year-over-year. Profit for the quarter increased 3.7 percent to $64.7 million.
"Our strategic growth programs continued to drive share gains during our March through May third fiscal quarter against the backdrop of continued improvement in overall market conditions," said Erik Gershwind, president and CEO. "We would characterize the current demand environment as one of moderate growth, despite the soft pricing environment."
Fiscal year-to-date sales were $2.1 billion, up 15.5 percent over the prior-year period. Profit decreased 4.4 percent to $173.3 million.