MSC Industrial Direct Co. Inc., distributor of metalworking and MRO supplies to industrial customers, reported sales for its fiscal 2009 first quarter were $433 million, down 1% from $437.6 million in the prior-year quarter.
Profit for the quarter was $45.1 million, down from $46.9 million in the year-ago period.
David Sandler, president and CEO, said that market conditions continued to deteriorate during the quarter. “Having managed through market cycles in the past, MSC moved quickly to control spending and maximize profitability despite the effects of overall market conditions on our sales levels,” he said.
Sandler also reported that customer feedback indicates that conditions have continued to deteriorate, with many …
MSC Industrial Sales Down 1% in 1Q
MSC Industrial Direct Co. Inc., distributor of metalworking and MRO supplies to industrial customers, reported sales for its fiscal 2009 first quarter were $433 million, down 1% from $437.6 million in the prior-year quarter.
Profit for the quarter was $45.1 million, down from $46.9 million in the year-ago period.
David Sandler, president and CEO, said that market conditions continued to deteriorate during the quarter. “Having managed through market cycles in the past, MSC moved quickly to control spending and maximize profitability despite the effects of overall market conditions on our sales levels,” he said.
Sandler also reported that customer feedback indicates that conditions have continued to deteriorate, with many …
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