Anixter Reports Double Digit Sales Jump

Jason Sandefur

Anixter International Inc. reported sales, including fasteners, rose 22% to $1.51 billion during the second quarter of 2007, prompting CEO Robert Grubbs to predict the company is on its way to “another record setting year of sales and earnings.” Revenue included an organic sales rate of 17%, while net income jumped 31% to $64.4 million.
Q2 sales in North America grew 16% to $1.07 billion, boosted by “strong end-market demand and higher copper prices. Revenue from Europe soared 36% to $326.2 million, while sales in Latin America and Asia Pacific jumped 49% to $113.9 million.
Revenue during the first six months of 2007 rose 23% to $2.84 billion, producing a net income gain of 46% to $118.2 million. Web: anixter.com �2007 FastenerNews.com