WESCO International Inc., distributor of electrical MRO products, construction materials, and advanced integrated supply procurement outsourcing services, saw sales jump 18.2% to $4,421 million in 2005, compared with 2004. The company’s organic growth was 15.4%. Profit was $103.5 million, compared with $64.9 million last year.
Sales in the fourth quarter 2005 were $1,236.7 million compared with $987.9 million in 2004, an increase of 25.2%. Profit in the fourth quarter was $39.7 million in 2005 versus $17.1 million in the comparable 2004 quarter. WESCO had organic sales growth of 15.9% in the fourth quarter.
“Gross margin and operating margin each improved as a result of our continued focus on margin initiatives, implementation of LEAN and solid results from the two acquisitions completed in the third quarter of 2005,’ said CFO and CAO Stephen A. Van Oss.
Said Chairman and CEO, Roy W. Haley: ‘The integration of the systems and operations of Fastec and Carlton Bates is coming along very well and these recently acquired businesses will serve to complement and accelerate our market development initiatives. Our LEAN initiatives have contributed to high levels of sales productivity and excellent management of expenses and resources. We continue to drive initiatives that target double digit organic growth in 2006.’
