The Newark electronics catalog – once known as the “Bible of the industry” — has made significant progress under parent Avnet Inc. and expects additional investment will boost its e-commerce capabilities and restore historically high profit margins. Newark was acquired in 1996 by the UK’s Premier Farnell group. The Newark and Farnell catalogs underwent a…
Two weeks into his tenure as interim Avnet Inc. CEO, Phil Gallagher is crystal clear on his growth plan for the $18 billion global distributor. “We will be absolutely focused on our core strategy — technology distribution — and driving home our value to suppliers and customers right out of the gate,” he said. It’s…
Avnet, Inc. (Nasdaq: AVT) today announced results for its fourth quarter and fiscal year ended June 27, 2020. Fiscal Fourth Quarter Key Financial Highlights: Sales of $4.2 billion, compared with $4.3 billion in the previous quarter and $4.7 billion in the prior year quarter. GAAP diluted earnings per share from continuing operations of $0.53, compared with loss per share of $0.33 a year ago. Non-GAAP adjusted…
Avnet, Inc. (Nasdaq: AVT), a leading global technology solutions provider, today announced that William J. (“Bill”) Amelio is moving on from his role as CEO and as a member of the Avnet Board of Directors. Rodney C. Adkins, Chairman of the Board, said, “Bill has been a great asset since joining Avnet’s Board of Directors in…
Two years ago, the U.S. and China began a tariff war that changed the face of international trade. Tech companies in particular deal with a series of rules and regulations that lack consistency across the globe. Electronics distributors handle many of the components, services and IT equipment that pass through the international supply chain. The…
The global electronics supply chain could be bracing for another disruption as the U.S. government moves to block semiconductor shipments from global chip makers to Huawei Technologies, the Chinese 5G and networking giant. Chip makers deal directly with large global customers such as Huawei, but electronics distributors often manage the logistics of semiconductor shipments to local markets. Most…
U.S. factory output in April accelerated its slide into contraction, falling to levels not seen since 2009. The Institute Supply Management’s (ISM) PMI dropped 7.6 percent — from 49.1 in March to 41.5. Any reading above 50 indicates growth; below 50 signifies contraction. In the computer and electronics segment, one executive reported a 30 percent…
Sequans Communications S.A. (NYSE: SQNS) and Avnet (NASDAQ: AVT), a leading global technology solutions provider, today announced a distribution agreement whereby Avnet will promote and sell Sequans’ IoT chips and modules and will exclusively promote and sell Monarch Go, an LTE-M/NB-IoT modem component designed for and certified by Verizon. Monarch Go enables new IoT devices…
WPG Holdings Co.’s bid to acquire a 30 percent stake in rival distributor WT Microelectronics Co. is meeting resistance from WT Micro executives and workers. During a late November media briefing in Taiwan, WT Micro vowed to resist the takeover. WT Microelectronics will never relinquish control of the company’s operations but will safeguard the interests…
Supplier realignment always causes stress in the electronics supply chain — but the past six weeks has moved the needle to “anxiety.” In early October, chip maker Texas Instruments announced it was dropping six of its distributors — including Avnet Inc., WPG and WT Microelectronics — by the end of 2020. Within the past week…