Anixter International Inc. (NYSE: AXE), Glenview, IL, reported sales for 2015 of $6.2 billion, up 12.4 percent year-over-year. Profit fell 34.5 percent to $127.6 million.
For the fourth quarter, sales were $1.8 billion, up 26.4 percent over the year-ago quarter. Organic sales decreased 0.5 percent. Profit fell 88.8 percent to $4.6 million.
In the fourth quarter, in connection with the acquisition of Power Solutions, Anixter’s enterprise cabling & security solutions segment was renamed network & security solutions. The low voltage business of Power Solutions was combined with the electrical and electronic wire & cable segment and renamed electrical & electronic solutions. The high voltage business of Power Solutions forms the utility power solutions segment.
Network & security solutions fourth-quarter sales of $971.6 million increased 0.5 percent over the prior year.
Fourth quarter electrical & electronic solutions sales of $528.3 million increased 8.9 percent compared to the prior-year period. Utility power solutions sales were $335.9 million.
