CORRECTED – CORRECTED-UPDATE 1-MSC Industrial Q4 results beat Street, sees Q

(Corrects analysts’ profit forecast for the first quarter to
$0.73 from $0.92, and revenue forecast to $462.3 million from
$500.3 million. Also clarifies the forecast is in line with
analyst estimates)

* Q4 EPS $0.70 vs est $0.64

* Q4 sales $461.4 mln vs est $455 mln

* Sees Q1 EPS $0.71-$0.75 vs est $0.73

* Sees Q1 sales $464 mln-$476 mln vs est $462.3 mln

* Declares special cash dividend of $1.00 per shr

Oct 21 (BestGrowthStock) – MSC Industrial Direct Co Inc (MSM.N: ), a
provider of tools and industrial services, posted
better-than-expected quarterly results helped by higher sales,
and forecast first-quarter results in line with market
estimates.

MSC Industrial, which distributes industrial supplies such
as fasteners, measuring instruments and plumbing supplies, sees
first-quarter earnings of 71-75 cents a share, on revenue of
$464-$476 million.

Analysts on average were expecting earnings of 73 cents a
share on revenue of $462.3 million, according to Thomson
Reuters I/B/E/S.

The company also said Chief Executive David Sandler will
continue in his current role through Dec. 31, 2012, or no later
than Dec. 31, 2013.

Chief Operating Officer Erik Gershwind has been identified
as Sandler’s successor, the company said.

For the June-Aug quarter, net income was $44.1 million, or
70 cents a share, compared with $26.0 million, or 41 cents a
share, a year ago.

Sales rose 30 percent to $461.4 million.

Analysts on average had expected earnings of 64 cents a
share, before special items, on revenue of $455 million.

Shares of the Melville, New York-based company closed at
$55.88 Wednesday on the New York Stock Exchange. They have
gained 18 percent of their value in under two months.
(Reporting by Divya Sharma in Bangalore; Editing by Jarshad
Kakkrakandy)

CORRECTED – CORRECTED-UPDATE 1-MSC Industrial Q4 results beat Street, sees Q