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Anixter International reports second quarter results

Anixter International Inc. this week reported results for the second quarter ending June 29.


July 25, 2012  


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Anixter International Inc. this week reported results for the second quarter ending June 29.

Sales of US$1.58 billion represented an increase of 1% compared to sales of US$1.57 billion in same quarter last year. Major items affecting current quarter sales comparisons versus the prior year included  US$17.1 million from the unfavorable effects of copper pricing and US$34.4 million of unfavorable foreign exchange effects, the company said in a release.

Meanwhile, second quarter operating income of US$89.9 million declined 2% compared to US$92 million in the year ago quarter.  

Commenting on second quarter sales trends, Robert Eck, President and CEO of Anixter, said “slower revenue growth was primarily driven by persistent softness in the data infrastructure market coupled with a reduction in production rates by several OEM Supply customers. We believe this is due to the uncertain macro economic environment, reflected in lower levels of both corporate and consumer spending. Our Electrical Wire & Cable business grew at a faster year-over-year rate in the second quarter than the first quarter while our Enterprise Cabling and Security and OEM Supply businesses experienced slower year- over-year growth than in the first quarter.

“A stronger US dollar and lower copper prices contributed to the slower revenue growth rate. These factors resulted in a sequential quarter growth rate of 3.6%, which is below our longer term historical trend.”