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Anixter International Inc. (NYSE: AXE), Glenview, IL, reported first-quarter sales of $2 billion, up 3.6 percent. Profit was $32.1 million, up from $30.9 million a year ago.
The distributor also said it has agreed to acquire security businesses in Australia and New Zealand for approximately $151 million. Combined, the businesses has trailing 12-month sales of approximately $114 million. The acquisitions are expected to close in the second quarter.
Anixter’s Network & Security Solutions segment sales increased 1 percent in the first quarter, to $994.8 million. Electrical & Electronic Solutions sales increased 7.8 percent to $568.4 million, and Utility Power Solutions sales grew 4.6 percent to $401 million.