MSC Industrial Direct Q1 results top Wall Street

* Q1 rev down about 13 pct

* Sees Q2 EPS 43-47 cents/shr vs est. $0.49/shr

* Sees Q2 rev $384 mln-$396 mln vs est. $380.9 mln

Jan 7 - MSC Industrial Direct Co Inc (MSM.N), a provider of tools and industrial services, reported a quarterly profit that edged past Street estimates by 1 cent, helped by a recovery in demand from large accounts.

Much of the improvement came from our large accounts, where demand has recovered more quickly than our more traditional customer base, Chief Executive David Sandler said in a release.

For the second quarter, the company forecast earnings in a range that came below analysts' expectations, but forecast strong revenue.

Our margin structure in the near term will continue to reflect changes in sales and margin mix, the cost of investment initiatives..., Sandler said.

For the first quarter ended Nov. 28, the company reported earnings of $31.4 million, or 50 cents a share, compared with earnings of $45.1 million, or 72 cents a share in the year-ago period.

Net sales fell about 13 percent to $384.8 million.

Analysts on average were expecting earnings of 49 cents a share, on revenue of $384.3 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company forecast earnings of 43 cents to 47 cents a share, on revenue of $384 million to $396 million.

Analysts were expecting earnings of 49 cents a share, on revenue of $380.9 million.

Shares of the company were down 9 cents at $49.30 in trading before the bell. They closed at $49.39 Wednesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Jarshad Kakkrakandy)