WESCO’s Fourth-Quarter Net Income More Than Doubles

Feb. 9, 2006
WESCO International Inc.’s net income in the fourth quarter more than doubled and its fourth-quarter sales increased more than 25 percent over the same period the year before.

WESCO International Inc.’s net income in the fourth quarter more than doubled and its fourth-quarter sales increased more than 25 percent over the same period the year before.

WESCO, Pittsburgh, said net income rose to $39.7 million from $17.1 million a year earlier.

Net sales for the quarter rose 25 percent to $1.24 billion, up from $987.9 million.

"By any standard of measurement, the fourth quarter and 2005 were terrific for WESCO," chairman and CEO Roy W. Haley said. "The company has delivered outstanding sales and service results throughout the year resulting in record-setting performance each successive quarter."

Haley said the integration of the systems and operations of Fastec and Carlton Bates is coming along well. He said the two recently acquired businesses would serve to complement and accelerate WESCO’s market development initiatives.

"We continue to drive initiatives that target double digit organic growth in 2006."