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Anixter OEM Supply Record Q4 Sales
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2014-05-29
Anixter Inc reported a record fourth quarter for OEM Supply, the renamed Anixter Fasteners operation.
Anixter OEM Supply recorded an overall 23.6% sales improvement in 2013 Quarter 4 against same period 2012 to achieve a fourth quarter record US$247.6 million (179.3 million euros). Factoring out a US$2.2 million currency advantage, organic sales increased 22.5%, said to be mainly due to improved sales to the U.S. heavy truck sector and the ramp up of a major European contract. Quarter 4 sales were up 10.2% on Quarter 3, driven primarily by the strength of Europe. Quarter 4 operating income was US$13.5 million compared with an adjusted US$2.7 million in the same quarter 2012. Operating margin was 5.5% in Q4 (-1.4% Q4 2012 and 3.7% in Q3 2013).
Annual sales for OEM supply were US$935.4 million (677.5 million euros), up from US$905.6 million (655.9 million euros) in 2012. Full year operating income in 2013 was US$32.5 million compared with a US$10.8 million loss in 2012. OEM Supply European sales for 2013 were US$473.4 million, up 7% year on year. North American revenues declined 4% to US$389.4 million. Emerging Market sales were US$71.9 million, up 14.3% on previous year.
