MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal first-quarter net income of $65.4 million.

On a per-share basis, the Melville, New York-based company said it had net income of $1.18. Earnings, adjusted for severance costs, came to $1.21 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The distributor of industrial tools and supplies posted revenue of $823.6 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $818.3 million.

For the current quarter ending in March, MSC Industrial said it expects revenue in the range of $781 million to $798 million. Analysts surveyed by Zacks had expected revenue of $807.6 million.

MSC Industrial shares have decreased 3% since the beginning of the year. The stock has decreased 1% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSM at https://www.zacks.com/ap/MSM

Automated Insights, source Associated Press News