4/25/2012 1:05:00 AM
NEWS BRIEFS
Anixter Fastener Segment Delivers Highest Sales Growth
Anixter International reported sales in its OEM Supply segment, including Anixter Fasteners, rose 11.5% to an adjusted $263.6 million in the opening quarter of 2012.
“Within our end markets, the OEM Supply business delivered the highest sales growth rate with 12 percent improvement year-on-year,” stated CEO Robert Eck.
OEM Supply revenue in emerging markets (Asia Pacific and Latin America) achieved the largest gain, growing 30.8% to an adjusted $17.6 million.
U.S. OEM Supply segment revenue increased 12% to $116 million in Q1, while European sales improved 9% to an adjusted $130 million.
Overall Anixter sales increased 3.5% to $1.52 billion during the opening quarter, with net income growing 25% to $55.3 million.
“The impact of the weak economy on our cabling businesses could not be offset by strong growth in the OEM Supply end market,” Eck noted. ©2012 GlobalFastenerNews.com
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Related Links:
• Anixter
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