MSC INDUSTRIAL SUPPLY CO., a premier distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, today reported results for its fiscal third quarter ended May 30, 2015.
Net sales for the fiscal third quarter 2015 were $745.5 million compared to net sales of $720.5 million in the same quarter a year ago, an increase of 3.5% on an average daily sales basis. Adjusted operating income for the fiscal third quarter 2015 was $104.5 million, or 14.0% of net sales, compared to $107.3 million, or 14.9% of net sales, in the same quarter a year ago. GAAP operating income for the fiscal third quarter 2015 was $104.2 million, or 14.0% of net sales, compared to $104.9 million, or 14.6% of net sales, in the same quarter a year ago.
Excluding the after-tax effects of non-recurring costs, adjusted net income for the fiscal third quarter 2015 was $63.5 million, or $1.03 per diluted share, compared to $66.2 million, or $1.06 per diluted share, in the same quarter a year ago. GAAP net income for the fiscal third quarter 2015 was $63.3 million, or $1.03 per diluted share, compared to $64.7 million, or $1.03 per diluted share, in the same quarter a year ago.
MSC expects net sales for fiscal fourth quarter 2015 to be between $735 million and $747 million. At the midpoint, average daily sales growth is expected to be 2.0%. The Company expects GAAP and adjusted diluted earnings per share for the fiscal fourth quarter 2015 to be between $0.93 and $0.97.
View the full earnings release here.