Msc Industrial Direct Company, Inc. · NYSE:MSM
Msc Industrial Direct — Q2 FY2014 Earnings Presentation
9 slides from Msc Industrial Direct's earnings presentation, Apr 9, 2014
Slide 1: Fiscal 2Q'14 Earnings Presentation
Fiscal 2Q’14 Earnings Presentation April 9, 2014 1
Slide 2: Risks and Non-GAAP Disclosures
Risks and Non-GAAP Disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including guidance about expected future results, expectations regarding our ability to gain market share, expected benefits from our investment and strategic plans, inclu
Slide 3: F2Q'14 Guidance Comparison
F2Q’14 Guidance Comparison Adjusted 2Q 2014 2Q 2014 Guidance Results(1) Sales $660M - $672M $662M Gross Margin 45.8% - 46.2% 46.4% Adjusted EPS $0.83 - $0.87 $0.87 Adjusted Operating Expenses $219M $217M Tax Rate 38.2% 38.5% (1) Reconciliations are provided on slides 7-9. 3
Slide 4: F2Q'14 EPS Walk
F2Q’14 EPS Walk(1) (1) Previously provided guidance for F2Q 2014 included the impact from BDNA operating results and excluded non-recurring relocation costs associated with our Davidson facility, integration costs associated with the BDNA acquisition and executive separation costs. Reconciliations a
Slide 5: F3Q'14 Guidance
F3Q’14 Guidance Sales $720M – $732M Gross Margin 46.0% +/- 20 bps Adjusted EPS $1.03 – $1.07 Tax Rate 38.0% Assumptions: • Includes BDNA accretion to EPS of $0.04. • Excludes non-recurring integration costs associated with the BDNA acquisition of roughly $0.03. 5
Slide 6: 3Q'14 Midpoint EPS Guidance Walk
3Q’14 Midpoint EPS Guidance Walk(1) (1) Adjusted EPS excludes non-recurring integration costs associated with the BDNA acquisition. 6
Slide 7: Reconciliations
Reconciliations Non-GAAP Financial Measures To supplement MSC’s unaudited selected financial data presented on a basis consistent with Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures, including adjusted operating income, adjusted net incom
Slide 8: Reconciliations
Reconciliations Thirteen Weeks Ended March 1, 2014 (dollars in thousands) Margin GAAP Operating income $81,722 12.4% Non-recurring costs 8,037 Adjusted Operating income $89,759 13.6% Thirteen Weeks Ended Thirteen Weeks Ended March 1, 2014 March 2, 2013 (dollars in thousands) Sales $661,513 $569,462
Slide 9: Reconciliations
Reconciliations Thirteen Weeks Ended March 1, 2014 Diluted (in thousands, except per share amounts) $(after tax) EPS GAAP net income $49,512 $0.79 Non-recurring costs* 4,944 0.08 Adjusted net income $54,456 $0.87 * On a pre-tax basis includes approximately $484 of non-recurring relocation costs asso
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