MSC Industrial Reports Third Quarter Results, $636.9M Net Sales
Originally published at www.seclive.com
Filing in Focus: MSC Industrial Direct 8-K, July 8, 2013
MSC Industrial Direct (MSM) has filed its form 10-Q for third quarter fiscal 2013, reporting net sales this quarter of $636.9M, up 4.1% from $612.0M reported this quarter last year. Details of the financial impact of its acquisition of Barnes Distribution North America in April are reported in detail in a recent form 8-K filing. Barnes contributed $34.7M in net sales to the $636.9M total reported by MSC. Net income this quarter was down from $70.2M last year to $62.4M, with earnings per share declining respectively to $0.98 per share, down from $1.10 per share this quarter last year. The decreases in profits and earnings per share was expected and attributed primarily to an extra week in fiscal 2012 and the lack of mid-year price increases, according to executive vice president and CFO Jeff Kaczka.
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