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Anixter Sales Grow 1% in Second Quarter

July 24, 2012
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Anixter International Inc., Glenview, IL, No. 6 on MDM’s list of the top 25 electrical distributors, reported sales for the second quarter ended June 29, 2012, were up 4 percent organically to $1.6 billion. Sales were up 1 percent overall.

Profit was $44 million.

For the first half of the year, sales were up 2 percent overall to $3.1 billion. Profit for the first half was $2.9 million.

Robert Eck, president and CEO, said: "Our slower revenue growth was primarily driven by persistent softness in the data infrastructure market coupled with a reduction in production rates by several OEM Supply customers. We believe this is due to the uncertain macroeconomic environment, reflected in lower levels of both corporate and consumer spending. Our Electrical Wire & Cable business grew at a faster year-over-year rate in the second quarter than the first quarter while our Enterprise Cabling and Security and OEM Supply businesses experienced slower year- over-year growth than in the first quarter. A stronger U.S. dollar and lower copper prices contributed to the slower revenue growth rate. These factors resulted in a sequential quarter growth rate of 3.6 percent, which is below our longer term historical trend."

In North America, sales were up 5 percent on an organic basis, the highest rate among Anixter’s reporting segments. Electrical Wire & Cable business delivered 9 percent organic sales growth year-over-year. Despite a slowdown in activity, Enterprise Cabling and Security Solutions and OEM Supply each delivered 2 percent organic sales growth.

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