- Press Release
Avnet Inc. presents figures for the fourth quarter and fiscal year 2009
Bracknell, Berkshire, 14 August 2009:
Avnet Inc. achieved global sales amounting to 3.77 billion US dollars in the fourth quarter of fiscal year 2009, which ended for the company on June 27, 2009. This represents a drop of 19.5 % compared with the equivalent period in the previous year. The net loss was 30.9 million US dollars, compared with a net profit of 144.1 million dollars in the equivalent period of the previous year. Included in the current quarter are impairment charges and restructuring, integration and other items amounting to $78.9 million after-tax. Included in the prior year quarter is income of $15.9 million, related to the gain on the sale of Calence LLC, partially offset by restructuring, integration and other charges. Excluding these items in both periods, net income for the current year fourth quarter was $48.0 million, as compared with $128.2 million, in the prior year period. The operating profits of Avnet Inc. fell to 20.5 million US dollars, following 170.6 million US dollars in the equivalent period of the previous year.
Split between the two divisions, Avnet Technology Solutions (TS) and Avnet Electronics Marketing (EM), the figures for Avnet Technology Solutions, a distributor of computer products and embedded and auto-ID technologies, are as follows: Avnet TS achieved an operating profit in the fourth quarter of 41.2 million US dollars; in the equivalent period of the previous year the operating result of Avnet TS amounted to 61.8 million US dollars.
The Avnet Electronics Marketing division, a distributor of electronics components, achieved a global operating profit of 57.1 million US dollars in the fourth quarter of 2009. In the same period of the previous year, the operating profit of Avnet EM amounted to 154.0 million US dollars.
In addition to the results for the fourth quarter of 2009, Avnet Inc. reported the results for fiscal year 2009. The company achieved total sales amounting to 16.23 billion US dollars. Compared with fiscal year 2008, this represents a fall of 9.6 percent. The net loss in fiscal year 2009 was 1.12 billion US dollars; in 2008 Avnet Inc. made a net profit of 499.1 million US dollars.
To the detailed US report: http://ir.avnet.com/
Avnet, Inc. (NYSE:AVT) is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 27, 2009, Avnet generated revenue of $16.23 billion. For more information, visit www.avnet.com. (AVT_IR)
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