Avnet has reported fourth quarter sales down 7.5% year on year to $4.7bn. Farnell fourth quarter sales slipped 12% year on year to $343.4m, and 6.5% sequentially to $367.5m. Avnet CEO Bill Amelio blamed macroeconomic headwinds and tariffs.
Avnet revenues rose 9.8% year on year to $5.06bn in the fourth quarter of 2018. Income fell to $58.6m against $81.4m in the fourth quarter. Highlights included Premier Farnell where revenues increased 13% year on year, and record 11.8% margins were achieved.
Avnet has established a strategic alliance to accelerate the development and delivery of complete end-to-end IIoT solutions to customers throughout the Americas and Europe. The deal combines Avnet’s expertise in the design and development of custom IoT hardware with relayr’s IIoT capabilities.
Avnet has rung the changes in its European management team. Slobodan Puljarevic and Mario Orlandi were named President of Avnet EMEA, succeeding Miguel Fernandez, who retired from Avnet after more than 30 years. In their new roles they will report to Phil Gallagher, President of Avnet’s global components business.
Avnet sales rose 5.8% to $4.52bn from $4.27bn in the second quarter to December 2017. Europe and Asia/Pacific led the advance. Sales in EMEA rose to $1.50bn from $1.38bn year on year and Asia/Pacific contributed a 10% increase from $1.64bn to $1.80bn.
Designs on designs: Avnet has opened its first design centre in the Americas
All smiles: Panasonic Industrial Europe hands over the trophy to Avnet Abacus
Dragon hunter: Bill Amelio, chief executive officer of Avnet
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