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Glenview, IL-based Anixter International Inc. (NYSE: AXE), a global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, reported sales for 2010 were $5.47 billion, an increase of 10 percent over sales for 2009. Profit was $108.5 million, compared to a year-ago loss of $29.3 million.
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For the fourth quarter, sales were $1.43 billion, up 18 percent in a year-over-year comparison. Profit was $31.5 million, compared to $12.7 million a year ago. Organic sales in the fourth quarter increased 18 percent.
"Our fourth quarter sales were not only stronger than we anticipated, but they also were strong enough to overcome the historical patterns that typically produce consecutive quarter sales declines from the third to fourth quarter due to the larger number of holidays in the fourth quarter," said Robert Eck, president and CEO. "In addition to the better-than-expected year-on-year sales increase of 18 percent, we also experienced a nearly 3 percent sequential increase in sales."
Sales increased in all reporting segments.