Anixter International Inc. (NYSE: AXE), Glenview, IL, reported third-quarter sales of $2.2 billion, up 8 percent compared to the third quarter of 2017. Net income increased 26.5 percent to $47.6 million, the company said.
Anixter said the quarter’s sales included the favorable impact of acquisitions in its security solutions business—completed in the second quarter—as well as unfavorable impacts due to the lower average price of copper and fluctuation in foreign currencies. Adjusting for those impacts, the company said organic sales increased 7.4 percent.
By segment, sales in Anixter’s Network & Security Solutions segment grew 8.5 percent during the quarter, Electrical & Electronic Solutions sales grew 7.6 percent, and Utility Power Solutions sales grew 7.6 percent.
