Segment growth boosts Anixter 4Q sales 3 percent

Business Wire

GLENVIEW - Increasing demand amid a sluggish industrial economy helped boos Anixter International's fourth quarter 2016 sales were up 3.2 percent.

The company reported sales of $1.9 billion for the quarter. Organic sales increased 4 percent year-over-year, the company reported.

President and CEO Bob Eck said the company's Electrical & Electronic Solutions segment grew during the quarter, as did sales in its EES and Utility Power Solutions segments, which continue to be impacted by a sluggish industrial economy, improved as customers' end markets began to recover.

"We are pleased to report the strongest organic growth rate in our Network and Security Solutions segment since the third quarter of 2011, driven by strength in our North America and Europe geographies and our security business. Full year sales in NSS reached a record $4.1 billion," Eck said. "We continue to progress with the integration of our acquired businesses, exceeding our 2016 synergy targets and remaining on track to deliver over $40 million in combined EBITDA synergies by 2018."

The company reported 62 billing days, compared to 61 billing days in the fourth quarter of 2015