MSC Industrial Direct Co. Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 28, 2015; Provides Earnings Guidance for Second Quarter of Fiscal 2016
January 06, 2016 at 05:15 pm IST
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MSC Industrial Direct Co. Inc. reported unaudited consolidated earnings results for the first quarter ended November 28, 2015. For the quarter, the company reported net sales of $706.8 million against $731.1 million a year ago. GAAP operating income was $90.4 million against $94.0 million a year ago. Adjusted operating income was $90.4 million against $97.5 million a year ago. GAAP net income was $55.0 million against $57.4 million a year ago. Adjusted net income was $55.0 million against $59.6 million a year ago. GAAP diluted EPS was $0.894 against $0.915 a year ago. Adjusted diluted EPS was $0.894 against $0.955 a year ago. Income before provision for income taxes was $89.058 million against $93.209 million a year ago. Net cash provided by operating activities was $122.110 million against $57.752 million a year ago. Expenditures for property. plant and equipment was $15.575 million against $13.358 million a year ago.
The company expects net sales for the fiscal 2016 second quarter to be between $680 million and $692 million. At the midpoint, average daily sales are expected to decline roughly 3%. The company expects diluted earnings per share for the fiscal 2016 second quarter to be between $0.76 and $0.80.
MSC Industrial Direct Co., Inc. is a North American distributor of a range of metalworking and maintenance, repair and operations (MRO) products and services. Its range of MRO products includes cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies. It serves a range of customers throughout the United States, Canada, Mexico, and the United Kingdom, from individual machine shops to manufacturing companies to government agencies, such as the United States General Services Administration and the United States Department of Defense. It operates a network of six customer fulfillment centers, 10 regional inventory centers and 41 warehouses. The Company's customer fulfillment centers have various locations in the United States.
MSC Industrial Direct Co. Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 28, 2015; Provides Earnings Guidance for Second Quarter of Fiscal 2016
MSC INDUSTRIAL DIRECT CO., INC. 
