Global Fastener News

Anixter Sales Increase 4%

November 07
00:00 2003

Anixter Sales Increase 4%

Jason Sandefur

Anixter Pentacon added $47 million in sales to parent company Anixter International Inc.�s overall revenue during the third quarter of 2003. Q3 sales for Anixter rose 4% to $653.4 million, while net income dipped 2% to $11.3 million. Third quarter highlights include the Sept. 26 acquisition of U.K. fastener distributor Walters Hexagon Group Ltd. for $41.6 million.
For the first nine months of 2003, Anixter Pentacon contributed $142.1 million in sales to Anixter�s overall 5% revenue increase to $1.96 billion. However nine-month net income slipped 13% to $28.8 million.
“In recent months, analyst reports, media stories and government statistics have pointed to an improving economic environment,� noted CEO Robert Grubbs. �Looking at our business, however, while customers acknowledge the long-term need to upgrade their network infrastructure, we have not seen a significant pick up in larger capital spending projects across a broad portion of our customer base.” Web: anixter.com �2003 FastenerNews.com

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

Register for our Mailing List

Sign up now to receive valuable weekly news about the fastener companies, people, and trends impacting the industry. REGISTER NOW
error: Content is protected !!