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What: Shares of communications supplier Anixter International (NYSE: AXE) are popping today, up by 13% at the high, after the company reported third-quarter earnings that bested consensus estimates.

So what: Third-quarter revenue came in at $1.6 billion and adjusted earnings per share was $1.53. Revenue met consensus estimates, but bottom-line profit topped the $1.42 forecast by $0.11. The top and bottom lines put up healthy growth of 20% and 89% respectively.

Now what: During the quarter, the company closed its previously announced divestiture of the Anixter Aerospace Hardware Division. The transaction resulted in a net loss from discontinued operations of $18.1 million, and the company received net sales proceeds of $137.6 million. Electrical distribution remains a fragmented market, but Anixter is able to throw its weight around and get better deals with suppliers.

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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.