|
|
Article: Anixter International Reports Fourth Quarter Results In Line With Revised Expectations.
- Article from:
- PR Newswire
- Article date:
- January 29, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SKOKIE, Ill. -- Anixter International Inc. , the world's leading distributor of communication products, today reported fourth quarter 2001 results in line with its restated guidance of January 7, 2002 -- prior to a charge for foreign exchange losses in Argentina. The final results include a 6 cents per diluted share charge related to devaluation of the Argentine Peso that was determined after the January 7th announcement.
Fourth Quarter Highlights Versus the Prior Year
-- Sales of $662.6 million were down 23 percent, due to softness across
all customer markets.
-- Operating profits declined 60 percent to $19.1 million, primarily due
to the ...