Anixter Sales Up 31.4% in 3Q - Modern Distribution Management

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Anixter Sales Up 31.4% in 3Q

Power Solutions acquisition helps company boost revenue.
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Anixter International Inc. (NYSE: AXE), Glenview, IL, reported third-quarter sales of $2 billion, a 31.4 percent increase compared to the year-ago quarter, reflecting the addition of Power Solutions that the company bought from HD Supply. Sales declined 2.3 percent on a pro forma basis. Profit improved 13.8 percent to $40.3 million.

Network and security solutions sales increased 0.7 percent to $1 billion. Electrical and electronic wire and cable sales decreased 3.1 percent to $535.1 million over the same period a year ago. Utility power solutions sales decreased 8.8 percent to $371.3 million.

For the first nine months, sales were $5.7 billion, an increase of 32.8 percent over the prior-year period. Profit decreased 8 percent to $84.3 million.

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