Just a week after their key partner Axis turned in disappointing results, mega distributor Anixter's financials reveal significant struggles in their IP security business.
Over the past decade, Anixter has emerged as a major distributor in this industry, move ~$800 million of security products annually. However, now they have hit a wall.
In this note, we dig into the financials, management's explanation and the impact of this situation.
Anixter Financial Details