Financial Reports: MSC Industrial, Lands’ End, Henry Schein

Annual Sales Up, Quarterly Sales Down at MSC Industrial

Melville, NY–Maintenance, repair, and operations (MRO) cataloger MSC Industrial Direct (NYSE: MSM) reported net sales of $207.9 million for the quarter ended Sept. 1. That’s down less than 1% from $209.4 million for the comparable period of 2000. Net income dropped a more appreciable 18%, to $10.2 million from $12.5 million a year ago.

For the fiscal year ended Sept. 1, net sales were $869.2 million, a nearly 5% increase from $831.3 million the previous fiscal year. Net income for the year was $50.4 million (before a one-time, nonoperating after-tax charge in the third quarter of $9.9 million), down from $52.9 million last year.

“Sales volumes were trending positively through late August and early September, but as expected, orders were substantially reduced immediately following Sept. 11,” CEO Mitchell Jacobsen said in a statement. “Although volumes have since improved, we have not yet returned to pre-Sept. 11 levels.”.

3Q Earnings Nearly Triple for Lands’ End Dodgeville, WI–Finally, some good news fiscal news, from apparel and home goods cataloger Lands’ End (NYSE: LE). For the quarter ended Oct. 26, earnings reached $12.1 million, nearly triple the earnings of $4.4 million for the comparable quarter of last year. Revenue totaled $376 million, up 4% from $362 million last year.

Sales within the specialty segment, which includes the Lands’ End Corporate Sales catalog, rose 4%, to $128 million for the quarter. International sales climbed 14%, to $32 million. Internet sales jumped 32%, to $72 million. And sales from core catalog business inched up 2%, to $188 million.

Henry Schein Nets 22% Gain Melville, NY—Medical, veterinary, and dental supplies giant Henry Schein (Nasdaq: HSIC) reported a 9% increase in third-quarter sales and a 22% hike in third-quarter net income. For the three months ended Sept. 30, sales were $659.8 million, up from $603.3 million the year prior. Net income reached $25.2 million, compared with adjusted net income of $19.6 million last year.

Henry Schein’s medical group posted sales of $260.0 million for the quarter, a 19% increase from last year. International sales totaled $92.8 million, a 4% increase. Dental sales increased 5%, to $276.2 million, from last year. But veterinary sales declined 6%, to $13.4 million for the same period.

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