Avnet ForecastBy Jessica Davis | Print
Disappointing revenues, low visibility and more interest in lease financing characterized the quarter for technology distributors Ingram Micro and Avnet, reporting their earnings on Oct. 23. The reports come in the aftermath of a Wall Street meltdown that is causing a global economic crisis. It's a "different universe," says Ingram Micro's CEO.
Looking ahead, for its next fiscal quarter Avnet is forecasting less than normal seasonality at both operating units of the company and is providing a wider range of forecasts than normal due to volatility in the market.
Sales at the Technology Solutions unit are expected to be between $1.95 billion and $2.19 billion.