Industrial distributor MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, NY, reported sales for its fiscal second quarter ended Feb. 27 of $684.1 million, a decrease of 3.2 percent from the prior-year period. Profit for the quarter was $49.5 million, down 3.9 percent from the same quarter a year ago.
Sales for the first six months were $1. 4 billion, down 3.2 percent from the prior-year period. Profit was $104.6 million, down 4 percent.
"The market environment during our fiscal second quarter remained challenging, consistent with continued low levels of demand in the industrial economy and particularly in metalworking and heavy manufacturing," said Erik Gershwind, president and CEO. "Continued share gains, as well as strong execution on our gross margin countermeasures and cost reduction initiatives, helped offset this ongoing weakness."