Anixter Fastener Sales Up
Anixter Fastener Sales Up
Jason Sandefur
Anixter International announced sales at its North American OEM supply business, including fasteners, grew 18% $140 million during the third quarter of 2008, including $11.6 million relating to recent acquisitions.
“Strong growth in sales to aerospace and defense customers more than offset the slight sales decline to industrial customers related to reduced production levels,” the company stated.
Anixter’s European OEM supply business, including fasteners, saw modest growth, increasing 2% to $149.8 million during Q3. The depreciation of the British pound reduced sales by $2.3 million, and Anixter said it’s bracing for “a number of customer production cutbacks in response to softening economic conditions in Europe.”
Overall Q3 sales rose 5% to $1.59 billion, while net income dropped 4.7% to $61.7 million.
Nine-month sales at Anixter increased 7% to $4.68 billion, with net income gaining 2% to $186.3 million. Web: anixter.com �2008 FastenerNews.com
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