10/22/2013 11:08:00 AM
NEWS BRIEFS
“Significant” Change in Anixter Fastener Segment Results

Anixter International reported “significant improvement in sales and profitability” in its OEM Supply segment, including results from Anixter Fasteners. OEM Supply sales increased 9.3% to $224.7 million in the third quarter of 2013, reflecting the ramp up of a contract in Europe and an improvement in North America heavy truck production levels. Organic sales increased 8.5%. 

By region, OEM Supply sales in North America rose 1% to $94 million, while sales in Europe increased 12.3% to $112.1 million and Emerging Market sales improved 32% to $18.6 million.

Q3 OEM Supply operating income rose to $8.4 million compared to adjusted operating income of $0.3 million in the year ago quarter and compares to $5.7 million in the previous quarter. Operating margin of 3.7% compares to adjusted operating margin of 0.2% in the prior year quarter and 2.4% in the second quarter of 2013.

Nine-month OEM Supply sales declined 2.5% to $687.8 million, led by a 7.2% drop in North America sales. ©2013 GlobalFastenerNews.com 

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Related Links:

• Anixter International