Anixter Sales & Income Down
August 06
00:00
2002
Anixter Sales & Income Down
Jason Sandefur
Anixter International Inc. reported Q2 net sales dipped 23% to $617.3 million, cutting first half sales 28% to $1.23 billion. Operating income fell 50% to $22.5 million, down 56% for the half.
CEO Robert Grubbs said he expects “flat” Q3 sales in the range of $614-640 million.
In May Anixter announced plans to buy fastener distributor Pentacon Inc. for $121 million. The deal is scheduled to close in September.
Pentacon was recently presented a Boeing Q100 Quality Award, naming it a “top 100” supplier. Web: anixter.com �2002 FastenerNews.com
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