Avnet, Inc. Reports Earnings Results for the Second Quarter Ended December 28, 2019
January 23, 2020 at 04:05 pm
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Avnet, Inc. announced earnings results for the second quarter ended December 28, 2019. For the second quarter, the company announced sales was USD 4,534.806 million compared to USD 5,048.980 million a year ago. Operating income was USD 46.475 million compared to USD 96.050 million a year ago. Net income was USD 3.668 million compared to USD 36.401 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.33 a year ago. Basic earnings per share was USD 0.04 compared to USD 0.33 a year ago.
For the half year, sales was USD 9,164.814 million compared to USD 10,138.859 million a year ago. Operating income was USD 109.212 million compared to USD 242.866 million a year ago. Net income was USD 45.420 million compared to USD 120.125 million a year ago. Basic earnings per share from continuing operations was USD 0.46 compared to USD 1.07 a year ago. Basic earnings per share was USD 0.45 compared to USD 1.06 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 1.06 a year ago. Diluted earnings per share was USD 0.44 compared to USD 1.05 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. 
