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MSC Industrial Direct quarterly profit up

MSC Industrial Direct Co. Inc., Melville

Metalworking, maintenance and repair supplies

Quarter: Ended May 29

Net income: Profit of $44.2 million, compared with profit of $27.8 million in the same quarter last year.

Net revenue: $450.4 million, compared with $350.5 million in the year-ago period.

Outlook: "Our team has worked hard since the beginning of the downturn to be proactive and focus on market share, while taking prudent measures to reduce costs and moderate risks," said chief executive David Sandler. "Although there remains significant uncertainty relating to the economic environment and the current recovery, we are confident that our growth in market share will continue to accelerate."

Company statement: In the fiscal third quarter, net sales rose 28.5 percent and net income increased 59.4 percent compared to the same quarter last year; the company noted that the latest third quarter had one more sales day than the previous year's third quarter.


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