Anixter Expects 2016 Sales Growth Of 21% - 22%

(RTTNews) - Anixter International Inc. (AXE) said it now expect full year 2016 sales growth between 21 and 22 percent.

"As we enter the fourth quarter of 2016, we expect the positive momentum in our NSS segment, driven by strength in projects with global customers, to continue. While our EES segment continues to experience weakness related to industrial and manufacturing end market exposure, we are cautiously optimistic that this segment will return to growth in the fourth quarter based on recent sales trends," said Bob Eck, President and CEO.

The company expects the momentum it experienced at the end of the quarter in our UPS segment to continue based on customer trends as it exited the quarter, new customer wins and a robust pipeline.

Combining favorable outlook for NSS segment with recently improved trends in our EES and UPS segments, the company now expect full year 2016 sales growth between 21 and 22 percent, including a 24 percent favorable impact from the acquisition, a 1 percent unfavorable impact from currency fluctuations and a 1 percent unfavorable impact from lower average copper prices. The net result is a full year organic sales growth rate in the negative 1.0 percent to flat range.