Inside Long Island Business

Get the latest news and trends on Long Island companies and the people behind them.

Melville industrial supplier sees 21 percent profit rise

David Sandler, chief executive and president, MSC Industrial

David Sandler, chief executive and president, MSC Industrial Direct Co., manufacturing tools and supplies, Melville. Total compensation, as reported, $4,803,652. (Credit: John Dunn, 2010)

Melville-based MSC Industrial Direct Inc., a national distributor of metalworking, maintenance and repair supplies, reported a 21 percent rise in quarterly profit, saying it has gained market share amid a strong performance in sales and revenue.

MSC sells online and through its hard-copy 4,432-page Big Book, listing about 600,000 products, with a specialty in metalworking.

The company reports $60 million in earnings on $562.9 million sales for the quarter ended Feb. 25, up from $49.6 million earnings on $483.3 million in the same quarter last year. The company reports earnings of 95 cents per diluted share, up from 78 cents in the prior-year quarter.

David Sandler, MSC's chief executive, said, "With each passing quarter, it becomes increasingly clear that the industry consolidation we foresaw almost four years ago is entering the next phase."

The industrial supply marketplace "is now rewarding the narrowing field of distributors who are capable of consolidating customers' spend across multiple locations," Sandler said.

MSC expects moderate growth in coming months, and estimates an increase in sales for the coming quarter in the range of $610 million-$622 million in net sales, he said.

Photo, above, shows Sandler

Read more of Inside Long Island Business

Tags: MSC Industrial

advertisement | advertise on newsday

advertisement | advertise on newsday