MSC Industrial Reports EPS of $0.78 vs. $0.70; Revenues $483.4M vs. $475.65M

MSC INDUSTRIAL DIRECT CO., INC. MSM today reported financial results for its fiscal 2011 second quarter ended February 26, 2011. For the fiscal 2011 second quarter, net sales rose 22.2% to $483.4 million, compared with $395.5 million in the prior year period. For the second quarter of fiscal 2011, the Company reported net income of $49.7 million, an increase of 62.1% over net income of $30.6 million in the second quarter of fiscal 2010. Diluted earnings per share in the fiscal 2011 second quarter were $0.78 (based on 63.3 million diluted shares outstanding), compared to $0.48 (based on 63.0 million diluted shares outstanding) in the same period a year ago, an increase of 62.5%.