Anixter International Inc. (NYSE: AXE), Glenview, IL, reported first-quarter sales of $1.4 billion, an 8.7 percent increase year-over-year. Organic sales increased by 2.2 percent.
Profit declined 30 percent to $26.5 million.
Enterprise cabling and security solutions sales of $915.8 million increased 17.9 percent year-over-year. Organic sales growth increased by 2.7 percent.
Electrical and electronic wire and cable sales of $469.3 million decreased 5.7 percent over the same period a year ago. Organic sales growth increased by 1.2 percent.
During the first quarter, the company agreed to sell the OEM Supply – fasteners segment to American Industrial Partners for $380 million.
