Posted October 30, 2018

MSC sales up 10.9 percent

MSC Industrial Supply said its fiscal 2018 net sales of $3.2 billion increased 10.9 percent from $2.9 billion last year.

Net income of $329.2 million, or $5.80 per diluted share, compared to $231.4 million, or $4.05, the previous year.

Fourth quarter sales of $838 million were up 11.2 percent from $753.8 million in the fourth quarter of 2017. Net income of $73 million, or $1.29 per share, were up from $60.7 million, or $1.07, in the fourth quarter last year.

"The manufacturing environment maintained its positive momentum in the fiscal fourth quarter, while pricing remained relatively stable," said Erik Gershwind, president and chief executive officer. "Growth in the quarter was slightly above our expectations, with core customers seeing notable improvement, well ahead of company average, and our two acquisitions, DECO and AIS, continuing to perform well. Overall, there is a building excitement and confidence in our plan."