January 10, 2013 at 14:12 PM EST
MSC Q1 Sales Miss, Lowers Outlook On Slowing Demand
MSC Industrial Direct (MSM) reported first-quarter sales under estimates on Thursday and issued weak guidance due to slowing demand. The maker of supplies for metalworking maintenance and operations said first-quarter earnings climbed 6% to $1.10 per share, in line with Wall Street analyst estimates. Revenue rose nearly 6% as well to $577.5 million, but missed expectations of $582.26 million. Shares were down 4.5% intraday Thursday. CEO Erik
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