WESCO International sales jump 14.3 percent
WESCO International announced 2013 Q4 net sales were $1.88 billion, compared to $1.64 billion for the fourth quarter of 2012, an increase of 14.3%.
Acquisitions positively impacted sales by 13.8%, organic sales increased 1.5%, and foreign exchange negatively impacted sales by 1.0%. Sequentially, sales decreased 2.7% from the third quarter.
Net income of $58.0 million for the quarter was up 118.9% from $26.5 million for the prior year quarter.
Earnings per diluted share for the quarter were $1.09 per share, compared to 52 cents per share in the fourth quarter of 2012.
"Our fourth quarter results were consistent with the third quarter, reflecting the low-growth economic environment and challenging end market conditions. Organic sales increased 1.5% versus prior year driven by growth in Data Communications and Lighting, and continued strength in Utility," said John J. Engel, chairman and chief executive officer.
For the full year, net sales were $7.51 billion for 2013, compared to $6.57 billion for 2012, an increase of 14.2%. Acquisitions positively impacted sales by 14.6%, organic sales were flat, and foreign exchange negatively impacted sales by 0.4%.
Net income attributable of $276.4 million for 2013 was up 37.0% from $201.8 million for 2012.
INDUSTRIAL SUPPLY MAGAZINE
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