BRIEF: Profits edge higher at Wesco International

Jul 24, 2008 (The Pittsburgh Tribune-Review - McClatchy-Tribune Information Services via COMTEX) -- WCC | Quote | Chart | News | PowerRating -- Wesco International Inc. of Pittsburgh today reported second quarter net income of $60.1 million, a slight increase over net income of $59.6 million in the comparable quarter a year ago.

Earnings per share increased from $1.22 last year to $1.38 per share in the 2008 quarter, following a share repurchase totaling $36 million.

Sales grew by 6 percent to $1.59 billion from $1.52 billion, marking the strongest growth since the third quarter of 2006, said the South Side-based company, which distributes electrical construction products and electrical and industrial supplies.

"Strong execution on our sales and operational activities during the quarter combined to produce record sales and earnings per share in the face of softening end markets," said Chief Financial Officer Stephen A. Van Oss.

Van Oss said the company is dealing with a tougher pricing environment that has put pressure on margins. "We are focused on getting price increases ... and expect to see margins improve as this is accomplished," he said.

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