Anixter International Inc. (NYSE: AXE), Glenview, Il, reported sales for the first quarter were $1.52 billion, an increase of 19 percent from the same period a year ago. Profit was $44.3 million, compared to year-ago profit of $5.9 million.
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Organically, sales for the global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts increased 13 percent.
\”The stronger-than-expected pace of this recovery not only fueled higher sales growth than we anticipated, but it also was strong enough to overcome the historical patterns that typically produce relatively flat sequential sales from the fourth quarter to the first quarter,\” said Robert Eck, president and CEO.
Sales in North America increased 19 percent to $1.07 billion. Sales in Europe increased 15 percent to $291.3 million, and sales in Asia Pacific and Latin American improved 27 percent to $156.5 million.