MSC Industrial Direct Co. Inc., Melville
Industrial supplies and equipment marketer
Quarter: Ended Nov. 28
Net income: $31.42 million compared with $45.1 million in the quarter ended Nov. 29, 2008
Net sales: $384.8 million compared with $433 million in the first quarter of 2009
Outlook: For the second quarter of 2010, the company expects net sales between $384 million and $396 million and earnings per share between 43 cents and 47 cents.
Company statement: Chief executive David Sandler said, "The fiscal first quarter produced solid results for MSC. Despite operating in a business environment that remained difficult, we generated results in line with our expectations and continued to take market share. While customers continue to watch spending carefully, average daily sales improved during the quarter. Much of the improvement came from our large accounts, where demand has recovered more quickly than our more traditional customer base." - Emi Endo