Structured cabling distributor Anixter International Inc. has reported sales of US$662 million for its fourth quart...
February 7, 2003
Structured cabling distributor Anixter International Inc. has reported sales of US$662 million for its fourth quarter ending January 3.
Company president and CEO Robert Grubbs said while the results came in at the "high end of the expected earnings range, there continues to be no clear indicators of a "meaningful" upturn in corporate spending.
"Until that ramp up happens, it will be difficult to generate significant earnings improvement, as revenue growth will be key to better leveraging of our current operating expense structure," he said.
Fourth quarter sales for the Skokie, Ill. company include US$44.5 million from the recently acquired operations of Pentacon, formerly a distributor of fasteners and other small parts to Original Equipment Manufacturers and provider of inventory management services. Pentacon had 30 distribution and sales facilities in the United States, along with sales offices and agents in Europe, Canada, Mexico and Australia.
During the quarter, Anixter transferred US$130 million of its wire and cable OEM supply business to the Pentacon management team.