FY2013 Sales for MSC Industrial Direct Grow 4.3% - Modern Distribution Management

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FY2013 Sales for MSC Industrial Direct Grow 4.3%

CFO: The Barnes Distribution North America contribution to results exceeded expectations.

MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, NY, No. 10 on MDM's list of top industrial distributors, reported sales for fiscal 2013 ended August 31 of $2.5 billion, an increase of 4.3 percent compared to the same period a year ago. Profit decreased 8.1 percent to $238 million.

Sales for the fourth quarter were $673.8 million, an increase of 6.1 percent compared to the same period a year ago. Profit decreased 18.2 percent to $56.4 million.

"The Barnes Distribution North America integration is progressing well and the contribution of BDNA to our results was better than expected," said Jeff Kaczka, executive vice president and CFO.

Erik Gershwind, president and CEO, said, "A soft market environment persisted in the fiscal fourth quarter, particularly in metalworking where spending remained at depressed levels. However, the success of our share gain programs and customer penetration initiatives such as e-commerce and vending continued despite this weakness … Looking ahead, I would characterize the indicators as mixed, with some signs of possible improvement on the horizon."

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