Latest In Avnet

Organic sales for the electronics distributor increased 18 percent.

Including acquisitions, sales for the electronics distributor increased 42 percent.

Avnet’s profit was $103.9 million for the quarter.

Avnet, Inc., Tempe, AZ, reported sales of $16.2 billion for fiscal year 2009, down 9.6% over fiscal year 2008. The electronics distributor recorded a loss of $1.12 billion for the fiscal year, compared to profit of $499.1 million a year ago. Organic sales were down 15.6%.

For the fourth quarter, sales were $3.77 billion, down 19.5% over fourth quarter fiscal year 2008. Net loss was $30.9 million, compared to profit of $144.1 million for the prior year period. Organic sales declined 24.7%.

Electronics Marketing sales of $2.13 billion for the fourth quarter fiscal 2009 were down 22.2% year over year. Organic revenue decreased 27.3%.

Technology Solutions sales of $1.64 billion for the fourth quarter fiscal 2009 were down 15.8% year over year and down 20.9% organically. …

Avnet, Inc., Tempe, AZ, reported sales of $3.7 billion for the third quarter fiscal 2009 ended March 28, 2009, a decrease of 16.3% over the prior year period. Organic sales were down 22.3%.
 
Profit declined 83.2% to $18 million. Excluding charges related to restructuring, integration and other special items, profit fell 58.2% to $44.8 million.
 
Electronics Marketing sales fell 20.1% year over year to $2.1 billion, with declines occurring in all geographic regions.
 
Technology Solutions sales of $1.60 billion were down 10.8% from the prior year period. While still down, sales in this segment appear to have stabilized, CEO Roy Vallee said. …

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, Inc. has entered into a joint venture agreement with Sanko Holding Group in Turkey. Avnet will acquire a 50.01% interest of the joint venture, which will include the operations of Akora Technology and Industry Corporation, a Sanko affiliate company, making the joint venture one of the largest IT distributors in Turkey.
 
Founded in 2001, Akora distributes servers, storage, workstations and computer components to 3,000 resellers throughout Turkey. The joint venture, Avnet Technology Solutions Sanayi ve Ticaret A.S., will become part of the operations of Avnet Technology Solutions Europe, Middle East and Africa (EMEA).
 
In calendar 2007, Akora’s revenue was approximately US$127 …

Avnet Technology Solutions, a solutions distributor of enterprise computing products and an operating group of Avnet, Inc., has launched its solutions distribution business in China, expanding its geographic footprint in the Asia Pacific region. Avnet Technology Solutions, China, builds on and extends Avnet’s existing integration and components businesses in China.

Avnet Technology Solutions works with hardware and software suppliers to deliver technology solutions to resellers and integrators.

We believe China has a strong and promising future as part of the world economy, and Avnet is continuing to invest in the region,”said Rick Hamada, COO, Avnet, Inc. “By expanding our presence in China we will be able to leverage the success and experience gained through our …

Electronics distributor Avnet, Inc., Phoenix, AZ, reported sales of $4.49 billion for first quarter fiscal 2009 ended Sept. 27, 2008, representing an increase of 9.7% over the prior-year period and 7% excluding the impact of changes in foreign currency exchange rates.
 
Organic growth was up 0.9%.  
 
Profit for first quarter fiscal 2009 was $92.8 million as compared with net income of $105.5 million for the first quarter last year.
 
 Our September quarter continued a multi-quarter trend of muted organic growth rates as sluggish demand in several end markets persisted,” said Roy Vallee, CEO. “Although it is difficult to predict how macro conditions will impact tech demand over the next few quarters, we will continue to focus on achieving our …

Phoenix, AZ-based Avnet, Inc. reported sales of $17.95 billion for fiscal year end 2008, up 14.5% over fiscal year 2007. Profit improved 27% to $499.1 million. Organic growth was 4.9% over the prior year.
 
For the fourth quarter ended June 28, 2008, sales were $4.68 billion, an increase of 10.4% over the same period the prior year. Profit was $144.1 million, up 15.6%.
 
CEO Roy Vallee said, In fiscal 2008, our focus on value based management and value creating M&A resulted in record financial results despite the challenging macro-economic forces impacting our markets.”
 
Avnet completed seven acquisitions in fiscal year 2008.
 
Electronics Marketing sales were up 10.8% to $2.73 billion in the fourth quarter, included positive impact from …