MSC Industrial Direct Co. Inc.'s (MSM) first-quarter net income decreased to $31.42 million from $45.1 million a year ago. Earnings per share in the first quarter were $0.50 compared with $0.72 in the same period a year ago. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.49 for the quarter. Analysts' estimate typically excludes one-time items.
For the fiscal 2010 first quarter, net sales were $384.82 million, compared with $433.02 million in the prior year period. Six analysts estimated revenues of $384.29 million for the quarter.
For the second quarter of fiscal 2010, the company expects earnings per share to be between $0.43 and $0.47 and net sales between $384.0 million and $396.0 million. Nine analysts estimate earnings per share of $0.49 for the quarter. Six analysts expect revenues of $380.89 million for the quarter.
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