MELVILLE, N.Y. -- MSC Industrial Direct, one of the largest direct marketers and premier distributors of Metalworking and Maintenance, Repair and Operations ("MRO") supplies to industrial customers throughout the United States, today reported financial results for its fiscal 2011 year and fourth quarter ended August 27, 2011.
Net sales for the fourth quarter of fiscal 2011 were $533.2 million, an increase of 15.6% over net sales of $461.4 million in the fourth quarter of fiscal 2010. Operating income for the fiscal 2011 fourth quarter rose 33.2% to $93.9 million from $70.5 million in the same quarter a year ago.
For the 2011 fiscal year, net sales increased 19.5% to $2.02 billion from $1.69 billion in fiscal year 2010. Operating income for fiscal 2011 was $349.8 million, or 17.3% of net sales, compared to $241.8 million, or 14.3% of net sales, in fiscal 2010. For fiscal 2011 the Company reported net income of $218.8 million, an increase of 45.5% over net income of $150.4 million a year ago.