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Anixter International Inc. (NYSE: AXE), Glenview, IL, reported second-quarter sales of $2.1 billion, up 7 percent compared the second quarter of 2017. Net income fell 13 percent to $34.8 million, which includes certain expenses and a $9.2 million restructuring charge, the company said.
By segment, sales in Anixter’s Network & Security Solutions business increased 6.5 percent to $1.1 billion; Electrical & Electronics Solutions sales increased 8 percent to $606 million; and Utility Power Solutions sales rose 6 percent to $436 million.
Anixter also said it completed the previously announced acquisition of security businesses in Australia and New Zealand for $149.9 million during the quarter.