Posted October 31, 2017

MSC 4Q sales up 1.2 percent

MSC Industrial Supply reported net sales of $753.8 million for the fourth quarter, an increase of 1.2 percent year-over-year.

Full-year sales of $2.88 billion were up 0.8 percent from $2.86 billion the previous year.

"Conditions steadily improved in the quarter as manufacturing continued to firm. MSC achieved sales growth across all customer types with particular strength in National Accounts and CCSG. This momentum continued into the first two months of fiscal 2018," said Erik Gershwind, president and chief executive officer.

Average daily sales increased 9.2 percent year-over-year, with 150 basis points of growth from the acquisition of Deco Tool Supply, which was completed in July.

Net income of $60.7 million, or $1.07 per diluted share, compared to income of $61.8 million, or $1.02, in the fourth quarter of 2016.