Anixter International Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2012; Provides Earnings Guidance for the Year of 2013; Reports Impairment for the Fourth Quarter Ended December 28, 2012
For the full year, the company reported net sales of $6,253.1 million against $6,146.9 million a year ago. Operating income was $282.5 million against $362.8 million a year ago. Income from continuing operations before taxes was $209.2 million against $303.5 million a year ago. Net income from continuing operations was $124.6 million or $3.69 per diluted share compared to $200.7 million or $5.71 per diluted share in the year ago. Net income was $124.8 million or $3.69 per diluted share against $188.2 million or $5.36 per diluted share a year ago. Full year cash flow was $142 million; however, excluding the additional pension plan contribution, full year cash flow would have been $176 million, compared to $144 million in the prior year.
For the fourth quarter ended December 28, 2012, the company reported impairment of goodwill and long-lived assets of $21.3 million.
The company provided earnings guidance for the year of 2013. The company's outlook for 2013 includes low to mid-single digit organic sales growth, which it believes will be weighted to the back half of the year.