MSC Industrial Direct Co. reported net income of $30.6 million, or $0.48 per diluted share, in the second fiscal quarter of 2010 (ended 2/27/2010). The company reported net income of $26.3 million, or $0.42 per diluted share, in the same quarter of 2009.
Revenues in the second fiscal quarter of 2010 were reported at $395.5 million, a 12% increase from the $351.9 million reported in the second fiscal quarter of 2009.
David Sandler, the CEO of MSC Industrial Direct Co., said, “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.”
MSC Industrial Direct Co. also provided guidance for the third fiscal quarter of 2010. The company said that revenues would range from $436 million to $446 million, and earnings would range from $0.63-0.67 per diluted share.
MSC Industrial Direct Co., Inc. is a direct marketer and distributor of industrial and metal products to thousands of customers in the United States. The company uses a multi channel distribution model utilizing the internet and direct mail.