MSC Industrial Direct co., Inc. (MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, said its fourth-quarter 2014 GAAP net income increased to $62.8 million or $1.01 per share, from $56.38 million or $0.89 per share, last year.
Excluding the after tax effects of non-recurring costs, adjusted net income for the fiscal fourth quarter 2014 was $63.5 million, or $1.02 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share. Analysts' estimates typically exclude special items.
Net sales for the fourth quarter of fiscal 2014 were $726.6 million, a 7.8% increase from $673.8 million, reported a year ago. Wall Street analysts had a consensus revenue estimate of $724.84 million for the quarter.
Looking ahead, MSC Industrial sees net sales for the first quarter 2015 to be between $727 million and $739 million. Excluding non-recurring integration costs associated with CCSG, the company expects adjusted earnings per share for the first quarter 2015 to be between $0.95 and $0.99. Analysts expect the firm to report earnings of $1.07 per share and sales of $732.42 million for the first quarter.
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