logo
Share SHARE
FONT-SIZE Plus   Neg

Anixter Q1 Profit Climbs - Quick Facts

Anixter International Inc. (AXE) said its net income for the first quarter improved to $55.6 million or $1.62 per share from $40.9 million or $1.13 per share in the prior year.

Net sales for the quarter advanced to $1.52 billion from $1.47 billion in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.42 per share on revenues of $1.53 billion for the quarter. Analysts' estimates typically exclude special items.

Separately, Anixter announced that its Board of Directors declared the payment of a special dividend to shareholders of $4.50 per common share, or a total cash outlay of approximately $150 million. The special dividend is payable on May 31, 2012 to shareholders of record on May 16, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT