WESCO International sales up 9.7%
WESCO International said its $1.67 billion in sales for the second quarter reflect a 9.7% increase over $1.52 billion in the same time frame last year.
The increase includes a 2.2% positive impact from acquisitions and a 0.7% negative impact from foreign exchange rates, resulting in organic sales growth of approximately 8.2%.
Net income of $58.9 million for the current quarter was up 17.3% from $50.2 million for the prior year second quarter.
During the quarter, the company completed the acquisitions of Trydor Industries and Conney Safety Products.
"Our second quarter results reflect the continued execution of our growth strategy and our ability to deliver solid sales and earnings growth in a challenging economic environment. We generated positive momentum and increased sales to customers in each of our Industrial, Construction, Utility and CIG end markets," said John J. Engel, WESCO's chairman and chief executive officer.
Consolidated net sales were $3.2 billion for the first six months of 2012, compared to $2.9 billion for the first six months of 2011, an increase of 10.9%.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
