Revenue during the quarter grew 3.20 percent to $1,894.60 million from $1,835.80 million in the previous year period. Gross margin for the quarter expanded 20 basis points over the previous year period to 20.43 percent. Total expenses were 95.72 percent of quarterly revenues, down from 96.42 percent for the same period last year. This has led to an improvement of 69 basis points in operating margin to 4.28 percent.

Operating income for the quarter was $81 million, compared with $65.80 million in the previous year period.

However, the adjusted operating income for the quarter stood at $90.80 million compared to $91.50 million in the prior year period. At the same time, adjusted operating margin contracted 19 basis points in the quarter to 4.79 percent from 4.98 percent in the last year period.

"We are pleased to report the strongest organic growth rate in our Network and Security Solutions segment since the third quarter of 2011, driven by strength in our North America and Europe geographies and our security business. Full year sales in NSS reached a record $4.1 billion," commented Bob Eck, president and chief executive officer. "Consistent with what we indicated in our third quarter release, our Electrical & Electronic Solutions segment returned to growth in the fourth quarter. Sales trends in both our EES and Utility Power Solutions segments, which continue to be impacted by a sluggish industrial economy, improved as our customers' end markets began to recover. In addition, we continue to progress with the integration of our acquired businesses, exceeding our 2016 synergy targets and remaining on track to deliver over $40 million in combined EBITDA synergies by 2018."

For the first-quarter, Anixter International forecasts revenue to grow in the range of 1 percent to 3 percent. Anixter International forecasts revenue to grow in the range of 1 percent to 4 percent for the fiscal year 2017.

The company has spent $37.30 million cash to meet investing activities during the year as against cash outgo of $479.30 million in the last year.

The company has spent $273 million cash to carry out financing activities during the year as against cash inflow of $449.80 million in the last year period.

Cash and cash equivalents stood at $115.10 million as on Dec. 30, 2016, down 23.93 percent or $36.20 million from $151.30 million on Jan. 01, 2016.

Working capital declines
Anixter International has witnessed a decline in the working capital over the last year. It stood at $1,424.60 million as at Dec. 30, 2016, down 9.35 percent or $147 million from $1,571.60 million on Jan. 01, 2016. Current ratio was at 2.13 as on Dec. 30, 2016, down from 2.36 on Jan. 01, 2016.

Cash conversion cycle (CCC) has decreased to 38 days for the quarter from 41 days for the last year period. Days sales outstanding were almost stable at 32 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 36 days for the quarter compared with 37 days for the previous year period. At the same time, days payable outstanding went up to 30 days for the quarter from 28 for the same period last year.