Avnet, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 29, 2018
January 24, 2019 at 09:05 pm
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Avnet, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 29, 2018. For the quarter, the company announced sales of $5,048,980,000 compared to $4,521,636,000 a year ago. Operating income was $96,050,000 compared to $81,617,000 a year ago. Net income was $36,401,000 compared to $46,724,000 a year ago. Net income per basic and diluted share was $0.33 compared to $0.39 a year ago. Basic earnings per share from continuing operations was $0.33 against 0.47 a year ago.
For the six months, the company announced sales of $10,138,859,000 compared to $9,182,578,000 a year ago. Operating income was $242,866,000 compared to $146,185,000 a year ago. Net income was $120,125,000 compared to $105,027,000 a year ago. Net income per basic share was $1.06 compared to $0.86 a year ago. Net income per diluted share was $1.05 compared to $0.85 a year ago. Basic earnings per share from continuing operations was $1.07 against 0.94 a year ago. Diluted earnings per share from continuing operations was $1.06 against 0.98 a year ago.
Avnet, Inc. is a global electronic component technology distributor and solutions provider. The Company markets, sells, and distributes electronic components from electronic component manufacturers, including semiconductors, interconnect, passive and electromechanical components, and other integrated and embedded components. Its primary operating groups include Electronic Components (EC) and Farnell. EC serves a variety of markets ranging from industrial to automotive to defense and aerospace. EC offers an array of customer support options throughout the entire product lifecycle, including turnkey and customized design, supply chain, new product introduction, programming, logistics and post-sales services. The Farnell operating group primarily supports lower-volume customers and distributes a portfolio of kits, tools, electronic components, industrial automation components, and test and measurement products to both engineers and entrepreneurs, primarily through an e-commerce channel.
AVNET, INC. 
