Avnet, Inc. Reports Impairment Charges for the Fourth Quarter Ended June 29, 2019; Provides Financial Guidance for the Year Ending March 28, 2020
January 23, 2020 at 09:10 pm
Share
Avnet, Inc. Reported Impairment Charges for the fourth quarter ended June 29, 2019. For the quarter, the company reported goodwill impairment of $137.4 million.
For the year ending March 28, 2020, the company expects sales in the range of $4.1 million to $4.5 billion.
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. 
