July 24 Anixter International Inc, a distributor of communication products, reported lower-than-expected quarterly results, hurt by softness in the data infrastructure market and cut backs in production by several equipment manufacturers.
Net income from continuing operations fell to $44 million, or $1.28 per share, in the second quarter, from $48.4 million, or $1.33 per share, a year earlier.
Sales for the quarter rose 1 percent to $1.57 billion.
Analysts on average were looking for second-quarter earnings of $1.50 per share on sales of $1.61 billion, according to Thomson Reuters I/B/E/S.
A stronger U.S. dollar and lower copper prices also contributed to the slower revenue growth in the quarter, Chief Executive Robert Eck said in a statement.