Anixter International Q1 Earnings Rise, Beats Estimates

(RTTNews) - Anixter International Inc. (AXE) Tuesday reported higher net income of $47.4 million or $1.43 per share than $42.5 million or $1.27 per share in the prior-year quarter. On an adjusted basis, earnings were $47.8 million or $1.44 per share.On average, 9 analysts polled by Thomson Reuters expected earnings per share of $1.40 for the quarter. Analysts' estimates typically exclude one-time items. The company posted first-quarter revenues of $1.52 billion versus $1.49 billion last year.Nine analysts projected revenues of $1.54 billion for the quarter. Looking forward, the company believe, it is well-positioned for global growth in 2014 and it continues to expect mid-single digit organic growth.