Weeks after putting its OEM Supply – Fasteners unit up for auction, Anixter reported Fasteners segment sales declined 12.2% to $217.3 million in the fourth quarter of 2014.
“Excluding the $6.5 million unfavorable impact from foreign exchange, Fasteners organic sales decreased by 9.6% which equates to a 3.7% decrease on an adjusted per day basis.”
Further excluding the $17.1 million impact resulting from the previously disclosed transition of an existing European customer to dual source supply, organic sales growth would have been 3.4% on a per day basis.
Fasteners segment sales in North America dropped 1.9% to $92.1 million on an organic basis during Q4, “reflecting unplanned shutdowns by customers during the holidays.”(…)
