MSC Direct of Melville reports profit, sales up in 2Q

MSC Industrial Direct Co. Inc., Melville

Metalworking and repair equipment sales

Second Quarter: Ended Feb. 27

Net income: Profit of $30.6 million, compared with profit of $26.3 million in the same quarter last year.

Net revenues and sales: $395.5 million, compared with $351.9 million in the year-ago quarter.

Outlook: "Having passed through the most challenging economic climate in recent history, we are now seeing encouraging signs of stabilization in the market. We believe the steps we have taken through the economic downturn are now delivering the market share gains and the financial performance we expected," president and chief executive David Sandler said in a news release.

Company statement: "The fiscal second quarter reflected solid performance against a backdrop of improving market conditions. Driven by excellent execution, we generated sales and profitability performance that met or exceeded our expectations as we continued to take market share and make steady progress on our strategic investment programs," Sandler said.