Anixter Aerospace Fastener Sales ‘Strong’

Jason Sandefur

Anixter International Inc. reported sales, including fasteners, climbed 11% to $1.47 billion during the first quarter of 2008, while net income grew 8% to $57.7 million. Q1 sales included a 7% organic growth rate.
Sales in North America increased 10% to $1.02 billion, boosted by 9% growth in the OEM supply end market from strong growth in the aerospace and defense market. Operating income from North American operations jumped 14% to $80.6 million.
Revenue from Europe improved 11% to $340 million, while operating income slipped 7% to $13.9 million.
Sales in Asia and Latin America soared 18% to $114.8 million, with income rising 25% to $7 million.
In 2007 Anixter acquired aerospace fastener distributor Eurofast SAS from Lisi SA for $27 million. The move came weeks after Anixter bought UK-based fastener distributor Total Supply Solutions Ltd. for $8 million in cash and assumption of debt. Web: anixter.com �2008 FastenerNews.com