PITTSBURGH—Electrical products and construction materials company Wesco International Inc. said Thursday its second-quarter profit rose slightly, as pricing pressures cut into its margins.
Wesco earned $60.1 million, or $1.38 per share, up less than a percent from $59.6 million, or $1.22 per share, for the same quarter in 2007.
Sales rose 4.6 percent to $1.59 billion from $1.52 billion in the year-ago period.
The results came in ahead of Wall Street predictions. Analysts polled by Thomson Financial expected a profit of $1.36 per share on $1.54 billion in revenue.
Gross margin for the recent quarter was 19.5 percent compared with 20.3 percent in the 2007 period.
Wesco said a tougher pricing environment pressured its gross margins and it remains focused on improving margins through supplier price increases.
