Avnet Inc. (NYSE: AVT), Phoenix, reported sales for the fiscal year ended July 1 of $19.5 billion, a 2.6% increase over the same period a year ago. Profit for the year was $ $176.3 million, compared to a loss for the year of $156.4 million in 2018.
For the fourth quarter, sales were $4.7 billion, down 7.5% year-over-year. The company reported a loss for the quarter of $31.8 million, compared to a profit of $58.6 million during the fourth quarter of 2018.
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Fourth quarter sales down 7.5% year-over-year for electronics distribution giant Avnet.
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Profit was $34.4 million compared to $42 million in 2019.
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