Anixter International Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Organic Sales Guidance for the First Quarter and Full Year 2017
For the full year Net Sales were $7,622.8 million against $6,190.5 million a year ago. Operating income was $285.3 million against $267.8 million a year ago. Income from continuing operations before income taxes was $197.5 million against $182.9 million a year ago. Net income from continuing operations was $121.1 million against $96.9 million a year ago. Net income was $120.5 million against $127.6 million a year ago. Net cash provided by operating activities was $278.8 million against $91.9 million a year ago. Capital expenditures, net were $32.6 million against $28.6 million a year ago. Diluted income from continuing operations was $1.09 against $0.17 a year ago. Diluted income from continuing operations was $3.61 against $2.90 a year ago. Diluted net income per share was $1.09 against $0.14 a year ago. Diluted net income per share was $3.59 against $3.81 a year ago. EBITDA was $341.7 million. Adjusted EBITDA was $395.0 million.
The company expects the positive momentum experienced in the fourth quarter of 2016 to continue. Overall The company expects first quarter 2017 organic sales growth in the 1% to 3% range and full year 2017 organic sales growth in the 1% to 4% range. Looking forward to 2017, the company expects to generate approximately $180 million to $200 million in cash flow from operations for the full year while investing $45 million to $55 million in capital expenditures.
To summarize outlook for the first quarter of 2017, the company looking for organic growth in the 1% to 3% range.