Glenview, IL-based Anixter International reported its 2016 fourth quarter and full year financial results on Tuesday, led a 2.3 percent year-over-year organic sales increase in Q4.
Anixter's Q4 sales of $1.9 billion were up 3.2 percent overall from a year earlier, while adjusted total profit of $44.4 million compared with $35.0 million a year earlier.
By business segment in Q4:
- Network & Security Solutions sales of $1.0 billion were up 6.0 percent year-over-year, driven by 8.0 percent growth in North America. Organic sales increased 7.0 percent, with a 5.3 percent increase in organic daily sales. Operating profit of $77.2 million was up from $61.8 million a year earlier.
- Electrical & Electronic Solutions sales of $507 million was 0.9 percent year-over-year. Organic sales increased 1.7 percent, while operating profit of $22.4 million increased 16.7 percent.
- Utility Power Solutions sales of $347.6 million decreased 1.2 percent, with organic daily sales down 2.8 percent. Operating profit of $14.6 million was down slightly from $15.3 million a year earlier.
For the full year, Anixter's 2016 total sales of $7.62 billion increased 23 percent from 2015, powered by the company's 2015 acquisition of HD Supply's Power Solutions segment. Operating profit of $285.3 million increased 6 percent, while total profit of $121.1 million increased 25 percent.
Anixter said it expects Q1 2017 organic sales growth of 1-3 percent and full year organic sales growth of 1-4 percent.