Avnet, Inc., Phoenix, AZ, reported sales of $4.27 billion for second quarter fiscal 2009 ended Dec. 27, 2008, a decrease of 10.2% over second quarter fiscal 2008. Excluding the impact of changes in foreign currency exchange rates, sales were down 6.4% for the quarter. Organic sales were down 14.9%.
Profit was $112.3 million, down 21% from the prior year quarter.
"Our second fiscal quarter was unusually challenging as demand weakened through the quarter culminating with lower-than-expected revenue in the month of December, CEO Roy Vallee said. This slowdown was widespread as all three regions and both operating groups contributed to a double digit year-over-year organic revenue decline for the quarter.
“Based on these …
Avnet Sales Down in 2Q
Avnet, Inc., Phoenix, AZ, reported sales of $4.27 billion for second quarter fiscal 2009 ended Dec. 27, 2008, a decrease of 10.2% over second quarter fiscal 2008. Excluding the impact of changes in foreign currency exchange rates, sales were down 6.4% for the quarter. Organic sales were down 14.9%.
Profit was $112.3 million, down 21% from the prior year quarter.
"Our second fiscal quarter was unusually challenging as demand weakened through the quarter culminating with lower-than-expected revenue in the month of December, CEO Roy Vallee said. This slowdown was widespread as all three regions and both operating groups contributed to a double digit year-over-year organic revenue decline for the quarter.
“Based on these …
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