WESCO International sales up 12.2%
WESCO International said its net sales were $1.6 billion for the first quarter of 2012, compared to $1.4 billion for the first quarter of 2011, an increase of 12.2%.
Acquisitions positively impacted consolidated sales by 2.6%, while one additional workday positively impacted sales by 1.6% and foreign exchange provided a 0.2% negative impact resulting in a normalized organic growth rate of approximately 8.2%.
Net income of $52.9 million for the current quarter was up 41.9% from $37.3 million for the prior year first quarter.
"2012 is off to a good start, and we are pleased with our first quarter results, which reflect effective execution of our growth strategy and our ability to deliver strong sales and earnings growth in a challenging economic environment," said John J. Engel, WESCO's chairman and chief executive officer.
Based in Pittsburgh, Pa., WESCO International is a provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services.
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.
