MSC Industrial Direct Q4 Profit Down

(RTTNews) - MSC Industrial Direct Co., Inc. (MSM) reported that its fourth-quarter net income declined to $60.75 million from $61.85 million last year. But, earnings per share increased to $1.07 from $1.02 last year.

Net sales for the quarter grew to $753.77 million from $745.07 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share and revenues of $745.58 million. Analysts' estimates typically exclude special items.

The company expects net sales for the first quarter of fiscal 2018 to be between $762 million and $776 million. At the midpoint, average daily sales are expected to increase roughly 12% compared to last year's first quarter. Excluding DECO, the Company expects net sales for the first quarter of fiscal 2018 to be between $734 million and $748 million, with average daily sales at the midpoint expected to increase roughly 8% compared to last year's first quarter.

The company expects earnings per share for the first quarter of fiscal 2018, including and excluding DECO, to be between $1.03 and $1.07, at the midpoint up roughly 9% compared to last year's first quarter.

Wall Street currently is looking for the first quarter of fiscal 2018 earnings of $1.02 per share on annual revenues of $757.5 million.