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
The International Monetary Fund said strong mutual policy action is needed to lift growth, as transition in China and lower commodity prices pose downside risks to global economic outlook. "Risks are tilted to the downside, and a simultaneous realization of some of these risks would imply a much weaker outlook," the lender said in a note prepared ahead of the G-20 finance ministers meeting. Following the sell-off seen in the previous session, stocks showed a strong move back to the upside during trading on Wednesday. The markets benefited from a positive reaction to the latest batch of economic news. Frontier Airlines has crashed its own website after offering $1 fares from select U.S. markets.
comments powered by Disqus
RELATED NEWS
Trade AXE now with 
Follow RTT