Anixter Network & Security Reports Record 3Q Sales After Inner Range CSD Acquisition
Bill Galvin, Anixter.
ANIXTER’S Network & Security Solutions segment reported 3Q sales of $US1.14 billion, up 8.5 per cent year on year, with sales enhanced by the second-quarter acquisitions of access control manufacturer Inner Range and electronic security distributor Central Security Distribution.
Anixter Network & Security Solutions (NSS) segment reported quarterly sales of $597.4 million, an increase of 7.6 per cent.
“Growth was driven by an acceleration in our complex services and global project businesses, our security acquisitions, and strategic initiatives including security, wireless and professional audio video,” Anixter President and CEO Bill Galvin said.
“Despite challenging macroeconomic factors including tariffs, wage increases and broader inflationary pressures, our top priority remains improving profitability through gross margin initiatives combined with our focus on cost structure, as we balance expense discipline with growth investments in the business.”