Anixter Organic Sales Down 0.6% in Second Quarter - Modern Distribution Management

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Anixter Organic Sales Down 0.6% in Second Quarter

OEM supply sales declined by 2.3 percent from the prior year.

Anixter International Inc. (NYSE: AXE), Glenview, IL, reported second-quarter sales of $1.6 billion, a 0.2 percent increase compared to the year-ago quarter. Organic sales declined 0.6 percent. Profit increased 4 percent to $45.9 million.

Enterprise cabling and security solutions sales of $813.8 million decreased 0.8 percent from the prior-year period. The decline was caused by on-going macroeconomic weakness in the European and emerging markets regions and the continuation of improving but slow growth trends in North America. ECS operating income of $42 million is 6 percent above the year-ago quarter. The year-over-year increase reflects improved performance in the segment’s North America and EMEA geographies.

Electrical and electronic wire and cable had second-quarter sales of $530.6 million, a 2.8 percent increase from the prior-year period despite the negative impact of an 8 percent decline in copper pricing and a decrease in the number of large projects. Organic sales increased by 0.2 percent. The segment’s EMEA and emerging markets achieved record second-quarter sales. Operating income of $38.1 million decreased 12.2 percent from the year-ago quarter.

OEM supply sales of $235.1 million declined by 2.3 percent from the prior-year quarter, reflecting a year-over-year decline in heavy truck production levels in North America. Sales increased in both the EMEA and emerging markets geographies primarily due to slightly improved production levels in certain customer verticals. Operating income of $5.7 million is 17.4 percent below the year-ago quarter.

For the first six months, sales for Anixter were $3.1 billion, a 1 percent decrease compared to the same period a year ago. Profit decreased 11 percent to $88.5 million.

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