Anixter International 1Q earnings rise

Fiber Optics Weekly Update, April 29, 2005

Anixter International Inc., a distributor of fiber-optic cable, electrical wiring, and other communications products, said its first-quarter profit rose 13 percent, helped by higher sales resulting from an acquisition it made last year.

Anixter reported earnings of $20.4 million, or 51 cents per share, compared with $18.1 million, or 48 cents per share, in the prior-year period.

Sales for the quarter rose 15 percent to $876.5 million from $764.2 million a year ago. Sales were bolstered by the acquisition of Distribution Dynamics Inc. last June, as well as strength in the company's original equipment manufacturing supply business. The results topped analysts' average forecast of $848.5 million.

Anixter said it expects continued improvement in project quotation and booking activity.