Anixter Organic Sales Down 2.2% in 3Q - Modern Distribution Management

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Anixter Organic Sales Down 2.2% in 3Q

Including unfavorable copper pricing and foreign exchange, sales decreased 3.2 percent.

Anixter International Inc. (NYSE: AXE), Glenview, IL, reported sales for the third quarter of $1.6 billion, a 3.2 percent decrease compared to the same period a year ago. Organic sales decreased 2.2 percent. Profit was $53.7 million, compared to a year-ago profit of $19.8 million.

Enterprise cabling and security solutions sales of $804.3 million compare to $837 million in the prior-year period. The 3.9 percent decline was caused by the slowing of the Canadian market, the impact of the previously disclosed security solutions contract and on-going macroeconomic weakness in emerging markets.

Electrical and electronic wire and cable had third quarter sales of $528.6 million, a 6.7 percent decrease from the prior-year period, caused by the slowing of Anixter's Canadian and Latin American markets, which resulted from a decrease in the number of large projects, primarily in the mining and renewable energy customer verticals, and the negative impact of a decline in copper pricing.

OEM supply sales of $224.7 million increased by 9.3 percent from the prior-year quarter, reflecting the ramp up of a contract in Europe and an improvement in North America heavy truck production levels versus the downturn in the prior year quarter.

For the first nine months, sales for Anixter were $4.6 billion, a decrease of 2 percent compared to the same period a year ago. Profit increased 19 percent to $142.2 million.

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