Anixter 1Q sales up 19% YTY

Wire distribution behemoth Anixter International Inc., Glenview, Ill., had a solid first quarter and is cautiously optimistic about business conditions for the remainder of 2011. “The stronger-than-expected pace of this recovery not only fueled higher sales growth than we anticipated, but it also was strong enough to overcome the historical patterns that typically produce relatively flat sequential sales from the fourth quarter to the first quarter,” said Robert Eck, president and CEO, in a press release announcing the company’s 1Q financial results.