Fiscal year 2012 ended Feb. 25 for MSC Industrial Direct, a distributor selling MRO supplies in the industrial segment. Q2 sales were up 16.5%, to $563 million. First-half sales were more than $1.1 billion, up 15.95%.
Gross margins for the first half were 46.14%. One year earlier, in FY11’s first half, gross margins were 46.43%.
CEO David Sandler said, “With each passing quarter, it becomes increasingly clear that the industry consolidation we saw almost four years ago is entering the next phase. There is no doubt that the industrial marketplace is now rewarding the narrowing field of distributors who are capable of consolidating customers’ spend across multiple locations, and providing the technology and technical expertise required.”
Additionally, WallStCheatSheet.com ran excerpts from the company’s recent conferencecall with analysts. The excerpts included a reference to the company’s goal to double MSC’s sales by 2016.
When asked about revenue growth during the conference call, Sandler said, “…the balance of that is going to be achieved through organic growth…and then supplemented with M&A.”
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