Anixter Finishes 1Q With Sales Of $1.52B

GLENVIEW, Ill. -- Anixter International Inc., a leading global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, today reported results for the quarter ended April 1, 2011. -- Sales increased 19 percent from the prior year period to $1.

GLENVIEW, Ill. -- Anixter International Inc., a leading global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, today reported results for the quarter ended April 1, 2011.

-- Sales increased 19 percent from the prior year period to $1.52 billion.

-- Operating income increased 46 percent year-on-year, inclusive of a current quarter European restructuring charge of $5.3 million. Excluding this charge operating income increased 55 percent.

-- Net income increased by $38.4 million year-on-year, inclusive of a current quarter after-tax European restructuring charge of $3.3 million and a prior year after-tax loss on early debt retirement of $18.9 million. Excluding these two items, net income increased $22.8 million or 92 percent.

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