Infast Boosts Anixter Profit

Jason Sandefur

The July acquisition of Infast contributed $60 million in sales to parent company Anixter International during the third quarter of 2005. Infast also boosted Q3 revenue in Europe by 42%, CEO Robert Grubbs noted, while adding $1 million in operating income.
Overall Q3 sales for Anixter rose 19% to $1 billion, while net income soared 46% to $25.1 million.
Revenue for the first nine months of 2005 rose 16.3% to $2.82 billion, while operating income increased 40% to $134.7 million. Nine-month net income gained 34% to $69.9 million. Web: anixter.com �2005 FastenerNews.com