Glenview, IL-based Anixter International Inc. (NYSE: AXE), No. 4 on the list of top electronics distributors, reported sales for the second quarter were $1.61 billion, an increase of 18 percent over the same period a year ago. Organically, sales increased 10 percent. Profit increased 51 percent to $52.1 million.
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For the first six months, sales were $3.13 billion, an increase of 19 percent in a year-over-year comparison. Profit for the distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, was $96.4 million, compared with year-ago profit of $40.5 million.
\”Our strategic initiatives are clearly helping to fuel our sales growth in each of our end markets around the world,\” says Robert Eck, president and CEO. \”These efforts have once again delivered well-balanced sales performance across our geographic reporting segments with North America, Europe and Emerging Markets all delivering excellent year-on-year sales increases ranging between 16 and 33 percent.
\”Sales growth by end market was also robust, with both our Electrical Wire & Cable and OEM Supply end markets delivering a 25 percent improvement year-on-year,\” he says. \”In addition, the Enterprise Cabling and Security end market grew by 12 percent, with approximately one-third of that growth coming from the Clark acquisition.\”