Wednesday, Msc Industrial Direct Co. Inc.(MSM) said its fourth-quarter net income slid to $25.99 million or $0.41 per share from $50.53 million or $0.80 per share in the prior year period. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share for the quarter.
Net sales for the quarter declined to $354.09 million from $448.56 million in the comparable period. Six analysts estimated revenues of $343.42 million for the quarter.
For the fiscal 2010 first quarter, the company currently expects, earnings per share to be between $0.46 and $0.50 and projects net sales to be in the range of $378.0 million -$390.0 million. Analysts estimate earnings per share of $0.42 on revenues of $355.59 million for the quarter.
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