MSC 4Q sales relatively flat
MSC Industrial Supply reported net sales of $842.7 million for its fiscal fourth quarter, an increase of 0.6 percent compared to $838 million in the same period last year.
Net income of $66.6 million, or $1.20 per share, compared to net income of $73 million, or $1.29, in last year's fourth quarter.
"Our fiscal fourth quarter reflected solid execution in a weakening demand and pricing environment. Against this backdrop, we made encouraging progress against the initiatives announced last quarter, eliminating the bottlenecks in new business conversion, deepening our supplier partnerships to drive future profitability and market share gains, and beginning to reshape and resize the organization," said Erik Gershwind, president and chief executive officer.
For the full year, net sales of $3.4 billion increased 5 percent from $3.2 billion in 2018.
Net income of $288.9 million, or $5.20 per diluted share, compared to $329.2 million, or $5.80 in the previous year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
