Anixter Sales & Profit Grow
Anixter Sales & Profit Grow
Jason Sandefur
Anixter International reported sales, including fasteners, increased 14% to $1.52 billion during the third quarter of 2007, while net income declined 15% to $64.8 million. Q3 income included a $22.8 million refund from the IRS.
Q3 sales in North America improved 8% to $1.07 billion. Revenue from Europe soared 32%, including 10% organic growth. Latin America and Asia sales gained 38%.
“Growth was again particularly strong in Asia Pacific, where we posted year-on-year growth of approximately 65 percent,” commented CEO Robert Grubbs.
Sales during the first nine months of 2007 jumped 20% to a record $4.36 billion, producing a 16% gain in net income to $183 million. Web: anixter.com �2007 FastenerNews.com
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