Anixter International Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Cash Flow Guidance for the Full Year 2016
For the nine months, the company reported net sales were $5,728.2 million against $4,354.7 million a year ago. Operating income was $204.3 million against $202.0 million a year ago. Income from continuing operations before income taxes was $138.9 million against $146.3 million a year ago. Net income from continuing operations was $84.3 million against $91.4 million a year ago. Diluted earnings per share from continuing operations were $2.52 against $2.73 a year ago. Net income was $83.7 million against $123.0 million a year ago. Diluted earnings per share were $2.50 against $3.68 a year ago. Net cash provided by operating activities was $238.4 million against $93.7 million a year ago. Capital expenditures, net was $24.9 million against $29.2 million a year ago. Non-GAAP net income from continuing operations was $121.1 million or $3.62 diluted EPS against $115.3 million or $3.45 diluted EPS a year ago. Adjusted operating income was $259.8 million against $239.5 million a year ago. EBITDA was $248.3 million against $219.9 million a year ago. Adjusted EBITDA was $293.3 million against $265.3 million a year ago.
For the full year 2016, the company now expects to generate $280 million to $300 million in cash flow from operations, an increase of $100 million to the company's previous free cash flow outlook.