Rochester, NY 7/3/2009 1:50:52 AM
Mid Afternoon Report - MSM - MSC Industrial Beats Firt Call Consensus by 6 cents - Sourced WhisperFromWallStreet.com
MSC Industrial Direct Co.
Mid Afternoon Report - MSM - MSC Industrial Beats Firt Call Consensus by 6 cents - Sourced WhisperFromWallStreet.com
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MSC INDUSTRIAL DRCT,MSM
36.73 Up 0.46 (1.27%) 2:40PM ET
MSC Industrial beats by $0.06, beats on revs; guides Q4 EPS in-line, revs in-line (MSM) 36.27 : Reports Q3 (May) earnings of $0.44 per share, $0.06 better than the First Call consensus of $0.38; revenues fell 23.4% year/year to $350 mln vs the $344.3 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.33-0.37 vs. $0.36 consensus; sees Q4 revs of $336-348 mln vs. $346.36 mln consensus. Co says, "While our performance in the fiscal third quarter was better than anticipated, visibility remains limited as we continue to operate in one of the most severe economic downturns our industry has ever experienced. Feedback from our customers indicates that market conditions have remained weak without any expected near-term improvement. As a result, we are anticipating summer shutdowns that will be more prevalent and longer in duration than last year. Although these factors will likely impact sales in the coming months, we continue to believe that a larger proportion of customer business is being shifted to MSC, as our unmatched customer service, product offering, and value-added solutions make us a partner our customers can trust to support their supply chain needs. Despite these challenging times, our business continues to perform well and we believe that the steps we are taking will position us for robust growth in revenues and earnings when our markets improve."
ABOUT
MSC Industrial Direct Co., Inc., together with its subsidiaries, markets various industrial products to various industrial customers. Its product line comprises cutting tools; measuring instruments; tooling components; metalworking products; fasteners; flat stock and raw materials; abrasives; machinery hand and power tools; safety, janitorial, and plumbing products; material handling tools; power transmission products; and electrical supplies. As of August 30, 2008, the company provided approximately 590,000 stock-keeping units through its master catalogs; weekly, monthly, and quarterly specialty and promotional catalogs; newspapers and brochures; and the Internet, including its Web sites, MSCDirect.com, MSCJLMetalworking.com, and Use-Enco.com.
Last Trade: 36.67
Day's Range: 36.29 - 38.90
52wk Range: 26.72 - 53.68
Volume: 1,647,851
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