UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 24, 2008

WESCO International, Inc.

(Exact name of registrant as specified in its charter)

Commission file number 001-14989

Delaware (State or other jurisdiction of incorporation or organization)		25-1723345 (IRS Employer Identification No.)
225 West Station Square Drive Suite 700 Pittsburgh, Pennsylvania 15219 (Address of principal executive offices)		(412) 454-2200 (Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 2.02		Results of Operations and Financial Condition.

     The information in this Current Report is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

     On April 24, 2008, WESCO issued a press release announcing its earnings for the first quarter of 2008. A copy of the press release is attached hereto.

Item 9.01		Financial Statements and Exhibits

     (d) Exhibits

          99.1     Press Release dated April 24, 2008.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

April 24, 2008		WESCO International, Inc.
(Date)
		/s/ Stephen A. Van Oss
		Stephen A. Van Oss Senior Vice President, Chief Financial and      Administrative Officer

EXHIBIT 99.1

		News Release
		WESCO International, Inc. / Suite 700, 225 West Station Square Drive / Pittsburgh, PA 15219

WESCO International, Inc. Reports Record
First Quarter 2008 Sales

Consolidated Sales up 2.9%, Record Free Cash Flow Generated

Contact: Stephen A. Van Oss, Senior Vice President and
Chief Financial and Administrative Officer
WESCO International, Inc. (412) 454-2271, Fax: (412) 454-2477
http://www.wesco.com

PITTSBURGH, PA, April 24, 2008 — WESCO International, Inc. (NYSE: WCC), a leading provider of electrical MRO products, construction materials and advanced integrated supply procurement outsourcing services, today announced its first quarter 2008 financial results.

Consolidated net sales for the first quarter of 2008 were $1,465 million compared with $1,451 million in the first quarter of 2007. Consolidated sales grew 2.9% after adjusting for a previously announced divestiture. Sales for the quarter from acquisitions made in the second half of 2007 were approximately $12 million. Gross margin as a percent of sales for the quarter was 20.2% versus 20.6% for the comparable quarter last year. Operating income for the quarter was $77.1 million which included a one-time $3 million pre-tax loss in conjunction with the divestiture versus $82.5 million in the comparable quarter. Depreciation and amortization was $6.9 million in the quarter compared to $8.9 million last year.

Diluted earnings per share in the current quarter were $1.02, compared with $0.93 in the first quarter of 2007. Included in the current quarter was a one-time after-tax loss of $2.1 million, or $0.05 per share related to the divestiture. Last year’s first quarter included two nonrecurring items totaling a net charge of $3.3 million on an after-tax basis, or $0.06 per share. Net income in the first quarter of 2008 was $44.8 million versus $48.2 million in the comparable 2007 quarter.

Mr. Stephen A. Van Oss, Senior Vice President and Chief Financial and Administrative Officer stated, “Strong earnings and good working capital performance produced company best ever free cash flow of $80 million. Free cash flow was directed at debt reduction and the purchase of stock under our share repurchase program. Our capital structure is strong and we have ample liquidity and debt facilities to fund our operational growth, acquisitions and share repurchases. Financial leverage improved to 2.9 versus 3.1 at year-end 2007. Additionally, during the quarter we purchased approximately 0.6 million shares of stock for approximately $25 million under our previously announced $400 million share repurchase program. To date, under the current $400 million authorization, we have purchased

approximately 1.4 million shares for a total cost of $55 million, and since February 2007 we have purchased a total of 7.8 million shares.”

Mr. Van Oss added, “We posted solid results for the first quarter despite a challenging economic environment. Organic sales growth at 2% continued the positive trend we experienced in the fourth quarter and our construction backlog increased 11% over both year-end and last year’s first quarter. Earnings per share increased by $0.09 or 10% reflecting the impact of our share repurchase program.”

Mr. Roy W. Haley, WESCO’s Chairman and Chief Executive Officer commented, “We have seen some deterioration in certain markets related to residential construction activity. We are cognizant of the near-term risks of a slowing economy, and we are balancing the increased investment in business development initiatives with cost containment actions in other areas of our business. We've made investments in sales capacity and value-added services to enhance our customer relationships and strengthen our position in multiple market segments. Our business model is solidly established, and we are responsive to our customer’s needs for service, value and product solutions in today’s competitive marketplace.”

# # #

Teleconference
WESCO will conduct a teleconference to discuss the first quarter earnings as described in this News Release on Thursday, April 24, 2008, at 11:00 a.m. E.D.T. The conference call will be broadcast live over the Internet and can be accessed from the Company’s website at http://www.wesco.com. The conference call will be archived on this Internet site for seven days.

# # #

# # #

WESCO INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(dollar amounts in millions, except per share amounts)
(Unaudited)

		Three Months								Three Months
		Ended								Ended
		March 31, 2008								March 31, 2007
Net sales		$	1,465.2							$	1450.6
Cost of goods sold (excluding depreciation and amortization below)			1,169.6				79.8	%			1,151.6				79.4	%
Selling, general and administrative expenses			211.6				14.4	%			207.6				14.3	%
Depreciation and amortization			6.9								8.9
Income from operations			77.1				5.3	%			82.5				5.7	%
Interest expense, net			14.6								12.2
Other (income) expense			(2.7	)							—
Income before income taxes			65.2				4.4	%			70.3				4.8	%
Provision for income taxes			20.4								22.1
Net income		$	44.8				3.1	%		$	48.2				3.3	%
Diluted earnings per common share		$	1.02							$	0.93
Weighted average common shares outstanding and common share equivalents used in computing diluted earnings per share (in millions)			44.0								52.0

WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollar amounts in millions)
(Unaudited)

		March 31,				December 31,
		2008				2007
Assets
Current Assets
Cash and cash equivalents		$	94.4			$	72.3
Trade accounts receivable			864.1				844.5
Inventories, net			615.3				666.0
Other current assets			75.9				97.7
Total current assets			1,649.7				1,680.5
Other assets			1,139.2				1,179.4
Total assets		$	2,788.9			$	2,859.9
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable		$	638.8			$	626.3
Other current liabilities			635.7				665.6
Total current liabilities			1,274.5				1,291.9
Long-term debt			748.0				811.3
Other noncurrent liabilities			137.8				148.2
Total liabilities			2,160.3				2,251.4
Stockholders’ Equity
Total stockholders’ equity			628.6				608.5
Total liabilities and stockholders’ equity		$	2,788.9			$	2,859.9

WESCO INTERNATIONAL, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(dollar amounts in thousands)
(Unaudited)

		Twelve Months				Twelve Months
		Ended				Ended
		March 31, 2008				December 31, 2007
Financial Leverage:
Income from operations		$	388,762			$	394,224
Depreciation and amortization			34,762				36,759
EBITDA		$	423,524			$	430,983
Short term debt			486,000				502,300
Current debt			2,706				2,676
Long term debt			748,022				811,311
Total debt			1,236,728			$	1,316,287
Financial leverage ratio			2.9				3.1

		Three Months
		Ended
		March 31, 2008
Free Cash Flow:
Cash flow provided by operations		$	91,427
Less: Capital expenditures			(11,319	)
Free cash flow		$	80,108

WESCO INTERNATIONAL, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (CONTINUED)
(dollar amounts in millions)
(Unaudited)

		Three Months								Three Months
		Ended								Ended
		March 31, 2008								March 31, 2007
Gross Profit:
Net sales		$	1,465.2							$	1,450.6
Cost of goods sold (excluding depreciation and amortization)			1,169.6								1,151.6
Gross profit		$	295.6							$	299.0
Gross margin			20.2	%							20.6	%