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MSC Industries Direct CEO Discusses F2Q12 Results - Earnings Call Transcript

Stocks in this article: MSM

Information about these risks is noted in the earnings press release and the risk factors in the MD&A sections of the Company's latest Annual Report on Form 10-K filed with the SEC as well as in the Company's other filings of the SEC. These forward-looking statements are based on the Company's current expectations and the Company assumes no obligation to update these statements. Investors are cautioned not to place undue reliance on these forward-looking statements.

I would now like to introduce MSC Industrial Direct's Chief Executive Officer, David Sandler. David, please go ahead.

David Sandler

Thanks, Alex. Good morning, everyone. Thanks for joining us today. With me are our President and Chief Operating Officer, Erik Gershwind; Jeff Kaczka, our Executive Vice President and Chief Financial Officer; and Shelley Boxer, Vice President, Finance and Accounting.

I'll be providing some perspective on our performance and results for Q2, as well as guidance for Q3. Erik will continue to build upon our last call by describing our growth strategy in more detail; he’ll provide color on our vending program progress and will review the customer landscape. Jeff will provide details on Q2 financial performance and Q3 guidance.

Let me start by saying that I am thrilled with the progress we are making with our growth initiatives and the exciting outlook for the future. With each passing quarter it becomes increasingly clear to us that the industry consolidation that we foresaw coming almost four years ago is entering the next phase. Customers are demanding greater levels of supply chain solutions as they recognize that need in order for their business to flourish in today's fearfully competitive environment. There is no doubt that the industrial marketplace is rewarding the narrowing field of distributors who are capable of consolidating customer spend across multiple plant locations and who can provide the technology and technical expertise's required to improve productivity and reduced their total supply chain costs.

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