MSC Industrial Direct Co. Inc. reported net income of $26 million for the fourth quarter, a sharp decrease $50.5 million last year.
The maintenance supplies direct marketer posted net sales were $354.1 million for the quarter ended Aug. 29, a decrease from $448.6 million in the prior year.
“We ended fiscal 2009 with a solid performance in the fourth quarter,” said
David Sandler, CWO, in a statement: “While we did experience extended shutdowns by our customers during the period, they were not as severe as we had originally anticipated. Combined with our belief that we continue to take market share from weaker competitors and our strong operating cost controls, financial performance during the fourth quarter exceeded our original expectations.”
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