The 2020 Mid-Year Economic Update_long

MSC Industrial Posts 19.8% Sales Jump Over 2005

MSC Industrial Direct, Inc., Melville, NY, distributor of MRO supplies to industrial customers in the U.S., reported sales for the fiscal 2006 were $1.32 billion, a 19.8% increase over fiscal 2005. Profit was $136.4 million, an increase of 21.5%. Results are for fiscal year 2006 ended Aug. 26, 2006.


Net sales for the fourth quarter were $385.9 million, an increase of 39.4% from $276.8 million in the fiscal 2005 fourth quarter. J & L Industrial Supply contributed $67.9 million in sales in the fourth quarter. Profit for the fourth quarter rose 21% to $34.1 million versus $28.2 million in the year-ago period.


‘This was an excellent year for MSC that concluded with another strong quarter for our Company, id=bwanpa11>’ stated David Sandler, president and CEO. id=bwanpa12>’Our strong execution resulted in better than anticipated operating margins during the fourth quarter, excluding non-recurring acquisition-related charges. We continued to see solid demand across all of our markets, while our successful efforts to expand our presence on the West Coast resulted in strong growth in that region. The integration of J & L continued on plan and on budget during the quarter. Based on our solid progress to date, we expect to achieve the forecasted $20 million in margin improvements and operating synergies that we had originally anticipated.


‘We remain very well positioned to gain market share and grow as we continue to execute on our operating strategy. The recently reported ISM index is lower than in previous months and may be indicative of a deceleration of growth in the overall economy. During the first seven weeks of fiscal 2007, we experienced slightly slower sales growth than we had seen in the fourth quarter of fiscal 2006.’

Related Links:
MSC Industrial Direct 3Q Sales Increase 14.3%
MSC to Buy Kennametal’s J& L Unit for $349 Million (Updated)
MSC Industrial Direct 2Q Sales Increase 12.7%

More Breaking News

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.