The 2020 Mid-Year Economic Update_long

Anixter Sales Up 8.7% in 1Q

Enterprise cabling and security solutions sales increased 17.9 percent year-over-year.

Anixter International Inc. (NYSE: AXE), Glenview, IL, reported first-quarter sales of $1.4 billion, an 8.7 percent increase year-over-year. Organic sales increased by 2.2 percent.

Profit declined 30 percent to $26.5 million.

Enterprise cabling and security solutions sales of $915.8 million increased 17.9 percent year-over-year. Organic sales growth increased by 2.7 percent.

Electrical and electronic wire and cable sales of $469.3 million decreased 5.7 percent over the same period a year ago. Organic sales growth increased by 1.2 percent.

During the first quarter, the company agreed to sell the OEM Supply – fasteners segment to American Industrial Partners for $380 million.

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