WESCO International 4Q sales and income rise
WESCO International announced 2014 fourth quarter sales of $1.99 billion, an increase of 6.1% from $1.88 billion in the same period a year ago.
Net income of $74.5 million increased 3.7% compared to income of $58 million in the fourth quarter of 2013. Earnings per share rose to $1.40 from $1.09 in the year ago period.
Organic sales increased 8.1%, acquisitions positively impacted sales by 1.6%, and foreign exchange and number of workdays negatively impacted sales by 2.0% and 1.6%, respectively. Adjusting for the workday impact in the quarter, organic sales were flat sequentially, the company said.
"Our fourth quarter sales grew 8%, our highest quarterly organic growth rate since the second quarter of 2012, reflecting growth in all four of our end markets and in all three of our geographic regions," said John J. Engel, WESCO's chairman and chief executive officer.
For the full year, sales of $7.9 billion increased 5% from $7.5 billion in 2013. Net income of $275.9 million, or $5.18 per share, compared to income of $276.4 million, or $5.25 per share, in 2013.
INDUSTRIAL SUPPLY MAGAZINE
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