MSC Industrial Direct Co. Inc. reported unaudited consolidated earnings results for the thirteen weeks ended November 30, 2013. For the period, the company reported net sales of $678.51 million compared with $577.5 million in the prior year period. Income from operations was $96.8 million compared with $102.4 million in the prior year period. Net income was $59.05 million or $0.93 per basic and diluted share compared to $63.2 million or $1.01 per diluted share a year ago. Income before provision for income taxes was $95.7 million against $102.33 million a year ago. Adjusted operating income was $102.53 million against $103.7 million a year ago. Adjusted net income was $62.611 million or $0.99 per diluted share against $64.01 million or $1.01 per diluted share a year ago. Net cash provided by operating activities was $104.4 million against $89.4 million a year ago. Expenditures for property, plant and equipment were $12.51 million against $17 million a year ago.

The company provided earnings guidance for the fiscal second quarter of 2014. The company's fiscal second quarter guidance reflects the usual seasonality in revenues and expenses, widespread weather disruptions, and the planned increase in investment spending. From an adjusted operating margin standpoint, the company expects that fiscal second quarter will be the low point for fiscal 2014. The company remain on track to achieve an annual adjusted operating margin consistent with fiscal 2014 operating framework assuming a continuing low to moderate sales growth environment. The company expects net sales for the fiscal second quarter 2014 to be between $660 million and $672 million. At the midpoint, average daily sales growth, exclusive of BDNA, is expected to be 4.6%. Excluding non-recurring costs related to the co-location of the company's headquarters and non-recurring integration costs associated with BDNA, the company expects adjusted diluted earnings per share for the fiscal second quarter 2014 to be between $0.83 and $0.87. The company expects the non-recurring costs related to the co-location of the company's headquarters to have a $0.01 impact and the integration costs related to the BDNA acquisition to have approximately a $0.05 impact on its GAAP diluted earnings per share in the fiscal second quarter 2014. The implied adjusted operating margin for the fiscal second quarter at the midpoint of guidance is approximately 13% and represents what is expected to be the low point of the company's adjusted operating margin in fiscal 2014. The company expects the non-recurring costs related to the co-location of the company's headquarters and the integration costs related to the BDNA acquisition to have approximately a 90 basis point impact on its GAAP operating margin in the fiscal second quarter 2014.