Anixter International Inc. Reports Second Quarter 2015 Results
Resource from: The Street Likes:215
Jul 29,2015
Anixter International Inc. (NYSE: AXE) today reported quarterly sales of $1.48 billion for the quarter ended July 3, 2015, a 10.2 percent increase compared to the year-ago quarter. The current quarter and year-ago quarter each had 63 billing days. Adjusting for the favorable impact from the third quarter 2014 acquisition of Tri-Ed and the unfavorable impacts of the stronger US dollar and weaker average copper prices, organic sales increased 3.4 percent year-over-year. All commentary in this release reflects continuing operations unless otherwise noted. Please refer to the tables at the end of this release for the reconciliations to GAAP from the adjusted numbers as reported.
"Our Enterprise Cabling & Security Solutions ("ECS") segment achieved quarterly sales of $1 billion for the first time in our history, reflecting strength in both our security solutions and network infrastructure businesses," commented Bob Eck, President and CEO. "Sequentially, sales improved in our Electrical and Electronic Wire & Cable ("W&C") segment, while on a year-over-year basis, the business was negatively affected by copper and slower industrial growth, especially related to the oil and gas sector in Canada. From a geographic perspective, we delivered strong organic growth in the US while overall North America growth was adversely impacted by the weaker Canadian macro environment."
Operating income of $64.5 million compares to $77.2 million in the prior year quarter. Excluding $14.1 million of expense, which includes restructuring costs, an asset write-off and related business realignment expenses, adjusted operating profit of $78.6 million compares to $77.2 million in the prior year quarter. Adjusted operating income was negatively impacted by higher amortization expense resulting from the Tri-Ed acquisition. ECS adjusted operating profit of $50.9 million compares to $45.5 million in the prior year quarter and W&C adjusted operating profit of $30.0 million compares to $34.7 million in the prior year quarter.
(The Street)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
