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Anixter reports record fourth quarter operating income

Anixter International Inc. today reported fourth quarter sales of US$1.03 billion and record income of US$54.7 mill...


January 31, 2006  


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Anixter International Inc. today reported fourth quarter sales of US$1.03 billion and record income of US$54.7 million for the three months ending Dec. 30, 2005.

Robert Grubbs, president and CEO of the Glenview, Ill. distributor said results were driven by rising copper prices along with continued growth throughout many areas of the business.

For the 12-month period ending Dec. 30, 2005, net sales of US$3.85 billion produced an operating income of US$189.4 million and net income of US$90 million.

Total sales included US$126.4 million from Infast Group plc, a U.K.-based distributor, which Anixter purchased last July, and revenues of US$36.7 million from the June acquisition of Distribution Dynamics Inc.

“We are pleased with the strong finish to fiscal 2005 and the results for the year overall,” said Grubbs.