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Home->Fastener News->Anixter Q2 Fiscal Results Show A Modest IncreaseYou are the 359895 visitors
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Anixter Q2 Fiscal Results Show A Modest Increase

Electrical and wire products distributor Anixter International reported its 2017 second quarter fiscal results on Tuesday, led by a modest increase in total and organic sales that was powered its Utility Power Solutions segment.

The company posted Q2 sales of $2.0 billion, up 2.3 percent year-over-year, while organic sales increased 2.6 percent. Total profit of $40.1 million was nearly double that of $20.8 million in 2016, while adjusted profit of $46.2 million was a 4.3 percent increase from a year ago.

By business segment in Q2:

Network & Security Solutions sales of $1.03 billion decreased 1.5 percent year-over-year, while organic sales dipped 0.8 percent. The company said the declines reflect fewer large projects in the quarter compared to a y ear earlier. Sequentially, sales increased 4.5 percent from Q1. Operating profit of $64.9 million was flat year-over-year.

Electrical & Electronic Solutions sales of $561.5 million increased 1.1 percent year-overyear, while organic sales ticked up 0.3 percent. Operating profit of $29.6 million improved from $23.9 million a year earlier.

Utility Power Solutions sales of $410.5 million increased 15.3 percent year-over-year, while organic sales jumped 15.8 percent. Operating profit of $21.3 million increased from $12.0 million a year earlier, and $16.2 million in Q1.

Geographically, total sales grew 8.3 percent in Asia Pacific, 2.5 percent in Latin America/Canada, and 0.5 percent in the U.S.; Total sales declined 3.6 percent in EMEA (Europe, Middle East and Africa). Organic local-currency sales increased 10.0 percent in Asia Pacific, 3.7 percent in Latin America/Canada and 1.9 percent in the U.S.; organic local-currency sales declined 1.6 percent in EMEA.

"Against a backdrop of slow economic growth and a gradually improving global economy, end market recovery remains uneven, with strength in our growth initiatives, such as global accounts and security, offsetting more challenging industrial markets" commented Anixter CEO Bob Eck.

Source: Industrial Distribution

2017/7/27 17:05:00

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