Avnet Forecast

By Jessica Davis  |  Print this article 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.

Total consolidated sales for the company are expected to be between $4.34 billion and $4.74 billion.

Jessica Davis covers the channel for eWeek and Channel Insider. Her technology journalism career began well before anyone heard of the World Wide Web and has included stints at Infoworld, Electronic News/EDN, and the Philadelphia Business Journal. Her work has also appeared on CNN and Forbes.com. She has covered hardware, software and networking, as well as the business side of technology. She has won several journalism awards, including a national ASBPE award for best staff-written column, and was named Marketing Computers hardest working tech journalist on their inaugural list of top tech journalists. Jessica can be reached at jessica.davis@ziffdavisenterprise.com

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