Posted July 12, 2018

MSC reports 11.3 percent sales increase

MSC Industrial Supply said its fiscal 2018 third quarter sales of $828.3 million were 11.3 percent higher than the same period last year.

Net income of $79.1 million, or $1.39 per share, compared to $62.8 million, or $1.09, in the 2017 third quarter.

"The manufacturing environment in the third fiscal quarter was healthy, and the pricing environment sustained, with positive price/cost in the quarter. We continued to deliver gross margin stability, and our ongoing productivity efforts resulted in operating margin expansion. This was despite sales growth that was somewhat below my expectations due to the impact of our sales effectiveness initiatives and the related lower sales headcount," said Erik Gershwind, president and chief executive officer.

MSC expects net sales for the fourth quarter of fiscal 2018 to be between $829 million and $844 million.