Anixter Q2 Profit Rises - Quick Facts

(RTTNews) - Anixter International Inc. (AXE) reported that its second-quarter net income increased to $53.8 million or $1.61 per share from $46.1 million or $1.40 per share, last year. Adjusted EPS was $1.57, for the quarter. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.64 for the quarter. Analysts' estimates typically exclude special items.

Sales were $1.59 billion, a 0.4 percent increase compared to $1.58 billion, a year ago. Excluding the impact of the items, organic sales increased by 0.6 percent year-over-year. Adjusting for the impact of one less billing day in the current year quarter versus the year-ago quarter, reported sales would have increased by 2 percent. Analysts expected revenue of $1.64 billion for the quarter.

For full year 2014, the company expects to be at the low end of its previous estimate of mid-single-digit organic sales growth.