Anixter Security Sales Flat Q3 2015

By: John Honovich, Published on Oct 28, 2015

Last year, Anixter's security business struggled. Seeking to turn it around and expand, Anixter bought trunk slammer specialist Tri-Ed in August 2014. Now, more than a year later, Anixter continues to struggle to grow security revenue.

In this note, we examine Anixter's most recent quarter Q3 2015 financials.

**** ****, *******'* ******** business*********. ******* ** **** it ****** *** ******, Anixter *********** ******* ********** ***-** in ****** ****. ***, **** **** a **** *****, ******* continues ** ******** ** grow ******** *******.

** **** ****, ** examine *******'* **** ****** quarter ** **** **********.

[***************]

**********

******* *****:

"********* *** *** ***-** acquisition *** $**.* ******* of *********** ******* ********,ECS ******** ***** ****** *** **** compared to the prior year. This was a lower growth rate than we have experienced in recent quarters, reflecting slower sales in Canada and Latin America due to the timing of projects in the prior-year quarter."

** ** ****, ******* organic ******** ****** *** 7%, ** ****, ** was *%. ** *** timing ** *** *****-**** quarter, ** ** ****, organic ******** ****** *** 9%. ***** ********* ******* weak ****** ** ******** it *** *** * strong **** *** ***** year; *******, *% ** not **** ***********.

Flat ** *** *** **

***********, ***** *** ***** pressures ** *** ***** surveillance ****** **** ****, flat *** **** **** be *** *** **, especially *** ***** ************ within *** ******.

******* ** ************ '******** ******** *********'*** ******** ** ********** Tri-Ed ** ****** ***** security ********.

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