Search Menu
Photonics Media Photonics Buyers' Guide Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook
More News

Anixter Exits Korean Market, Cuts Jobs

Facebook Twitter LinkedIn Email Comments
SKOKIE, Ill., Sept. 13 -- Anixter International Inc. is exiting the Korean market, cutting 14 percent of its staff and expects third and fourth quarter sales to be lower due to the economic slowdown and deterioration in the telecom and technology markets.

The distributor of communication products, said it expects its fiscal third and fourth quarters sales to be 10 to 15 percent lower than a year earlier. Anixter said it was exiting the Korean market and would take a $5.5 to $6 million charge in the third quarter for that action. Net income for the third quarter now is expected to range between $7 to $7.5 million, or 18 to 20 cents per diluted share, before the one-time charges.
Sep 2001
CommunicationsindustrialNews & Features

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2020 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA,

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.