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LONDON, UK / ACCESSWIRE / February 13, 2018 / Active-Investors.com has just released a free earnings report on Anixter International Inc. (NYSE: AXE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AXE. Anixter reported its fourth quarter fiscal 2017 operating and financial results on January 30, 2018. The maker of security products, wires, and fasteners surpassed top- and bottom-line expectations and provided guidance for the upcoming quarter and full year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Wesco Aircraft Holdings, Inc. (NYSE: WAIR), which also belongs to the Services sector as the Company Anixter Intl. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Anixter International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Anixter reported sales of $2.01 billion for the quarter ended December 29, 2017, reflecting a 6.3% increase versus Q4 2016 sales of $1.89 billion. The Company's reported quarter organic sales increased 4.2%, excluding the $16.8 million favorable impact from the higher average price of copper and $22.5 million favorable impact from the fluctuation in foreign currencies numbers. Anixter's reported numbers beat analysts' estimates by $20 million.

For full year (FY) 2017, Anixter recorded sales of $7.92 billion, up 45% compared to sales of $7.62 billion in FY16.

For Q4 2017, Anixter reported gross margin of 19.8% compared to 20.4% in Q4 2016. The y-o-y decline was attributed to customer and product mix combined to the impact of lower vendor rebates and competitive pressure.

During Q4 2017, Anixter reported operating income of $80.4 million compared to $81.0 million in Q4 2016. The Company's adjusted operating income increased 6.6% to $96.6 million and adjusted operating margin of 4.8% was flat in the reported quarter compared to the year ago same period. Anixter's GAAP effective tax rate (ETR) was 99.4% in Q4 2017 compared to 37.2% in Q4 2016. The increase was primarily due to the impact of tax legislation recognized in December 2017.

For Q4 2017, Anixter reported net income of $0.4 million, or $0.01 per diluted share, compared to net income of $36.8 million, or $1.09 per diluted share, in Q4 2016. The Company's reported quarter results included amortization and impairment of intangible assets and acquisition and integration costs, which combined had an $11.8 million after-tax impact. Additionally, Anixter's net income included $35.6 million of tax expense related to the impact of recent US tax legislation. On an adjusted basis, the Company recorded adjusted net income of $1.41 per share, up 8% compared to $1.31 per share in the year earlier corresponding quarter, and ahead of Wall Street's estimates of $1.19 per share.

For FY17, Anixter reported net income of $109.0 million, or $3.21 per diluted share, compared to $121.1 million, or $3.61 per diluted share. The Company posted non-GAAP earnings of $5.16 per share versus $4.93 per share in FY16.

Anixter's Segment Results

During Q4 2017, the Network & Security Solutions (NSS) segment recorded sales of $1.1 billion compared to $1.0 billion in Q4 2016. The segment recorded operating income of $68.4 million compared to $77.2 million in Q4 2016. Excluding $9.3 million of impairment of intangible assets and amortization of intangible assets in the reported period, and $3.5 million of expense, primarily amortization of intangible assets, in the prior year's same period, NSS' adjusted operating income totaled $77.7 million in Q4 2017 compared to $80.7 million in Q4 2016.

During Q4 2017, the Electrical & Electronic Solutions (EES) sales advanced to $581.6 million compared to $507.0 million in Q4 2016. The strong growth was driven by a recovery in North America industrial project activity, ongoing growth with OEM customers, and synergistic growth from sales of low voltage products to legacy Anixter's customers.

EES' operating income increased 33.5% to $30.0 million on a y-o-y basis. Excluding $2.0 million and $2.2 million of amortization of intangible assets from Q4 2017 and Q4 2016, respectively, EES' adjusted operating income increased 30.7% to $32.0 million.

During Q4 2017, the Utility Power Solutions (UPS) sales advanced to $381.3 million compared to $347.5 million in Q4 2016. UPS' operating income increased 8.6% to $15.8 million. Excluding $3.4 million and $3.1 million of expense, primarily amortization of intangible assets, from the reported period and year ago same period, respectively, UPS' adjusted operating income increased 8.3% to $19.2 million.

Cash Flow and Leverage

Anixter's cash flow from operations was $183.8 million in FY17 compared to $279.1 million in FY16. The decrease was primarily due to higher working capital investment to support growth in the business. The Company invested $41.1 million in capital expenditures in FY17 compared to $32.6 million in FY16, reflecting higher capital investment in facilities and information technology.

Anixter's FY17 debt-to-total capital ratio improved to 46.1% from 51.6% at the end of 2016. Anixter had $667.1 million available under revolving lines of credit and secured accounts receivable and inventory facilities

Business Outlook

For the full year 2018, Anixter is forecasting organic sales growth of 2.0% to 5.0%, cash flow from operations of $180 million to $200 million and capital expenditures of $60 million to $70 million. For Q1 2018, Anixter is projecting organic sales growth in the 2.0% to 3.0% range.

Stock Performance Snapshot

February 12, 2018 - At Monday's closing bell, Anixter International's stock was slightly up 0.39%, ending the trading session at $76.65.

Volume traded for the day: 154.60 thousand shares.

Stock performance in the previous three-month period ? up 20.24%; past six-month period ? up 4.36%; and year-to-date ? up 0.86%

After yesterday's close, Anixter International's market cap was at $2.54 billion.

Price to Earnings (P/E) ratio was at 23.89.

The stock is part of the Services sector, categorized under the Industrial Equipment Wholesale industry. This sector was up 1.3% at the end of the session.

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