MSC Industrial Direct Inc., Melville, NY, distributor of MRO supplies to industrial customers in the U.S., reported sales in fiscal year 2007 ended Sept. 1 were $1.7 billion, up 28.1%. J & L Industrial Supply was acquired in June 2006, and contributed $218.9 million for the first three quarters of fiscal 2007.
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Profit for the year was $173.9 million, an increase of 27.5%.
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Sales for the fourth quarter were $450.5 million, up 16.7% from the prior-year period. Profit was up 39% to $47.4 million.
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The fourth quarter marked the completion of MSC’s integration of J & L. MSC has completed the consolidation of J & L’s distribution centers and support functions into MSC. Sales force training program has seen good initial progress” as the company looks to leverage the cross-selling opportunities that exist between the two customer bases.
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MSC reported that it continues to hear optimism from customer, but the optimism has been tempered by concern over weak macroeconomic indicators and high energy costs. Customer orders are steady.
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More details here.