Avnet Reports First “Transitional” Quarter
Avnet Inc. marked the first quarter of its transition to a components-only distributor by exceeding the midpoint of its expectations for the period ended October 1, 2016. Adjusted sales (including Avnet Technology Solutions) declined by 13.3 percent year-over-year to $6.04 billion. Excluding Avnet TS, sales declined by 9.3 percent to $4.17 billion. “We took a significant step…
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