Avnet has topped sales and profit expectations in its second quarter. Revenues moved forward 1.8% to $7.6bn and net income was up 7.4% to $176m. Avnet EM, the component distribution business revenues reported an impressive year on year 6.8% revenue hike to $4.43bn. Asia/Pacific provided the rocket fuel growing revenues 17.1% to $2.02bn, EMEA revenues, excluding currency exchange rates delivered a 7.1% increase to $1.21bn. Sales in the Americas were flat at $1.2bn. “Similar to our September quarter, better than expected growth in our select high volume supply chain engagements in Asia drove revenue to the high end of expectations and above normal seasonality. EM Asia grew 17.1% year over year and became the first region at Avnet to exceed $2 billion in quarterly revenue. This strong growth, along with another quarter of high single digit growth in EMEA, drove EM’s revenue up 9.7% year over year in constant currency.…
Miguel Fernandez has been named as president of Avnet Electronics Marketing (EM) EMEA. The appointment follows the promotion of Patrick Zammit to global president for Avnet Technology Solutions.…
Patrick Zammit. President of Avnet Electronics Marketing EMEA has been promoted to become Global President of Avnet Technology Solutions, the global IT solutions distribution operating group within Avnet.…
Avnet galloped into the first quarter of the 2015 financial year reporting sales of $6.84bn up 7.8% on $6.34bn in Q1 2014. Profits soared 12.2% to $223m against…
Avnet’s financial results sprinted through the fourth quarter as sales accelerated by 6.9 per cent to $7.05bn and profits soared 47.7% to $186.3m. Full year 2014 results benefited…
Avnet has completed the acquisition of MSC Gleichmann Group. MSC will now operate as a business group of Avnet Electronics Marketing EMEA. MSC Vertriebs GmbH and Gleichmann &…
Avnet has made a flying start to its new financial year posting an 8.1 per cent increase in revenues to $6.35bn compared to $5.87bn in Q1 last year.…
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Sales up, profits down, results ahead of expectations is the precise summation of Avnet’s fourth quarter results. Revenues grew healthily by 5% to $6.59bn compared to Q4 last…
Avnet is buying MSC Gleichmann, the European component distribution, embedded computing technology and display solutions. The agreement details a two-step approach whereby Avnet will acquire a majority interest…