SHARE
Facebook X Pinterest WhatsApp

Distributor Avnet Misses Quarter Profit Expectations

Aug 5 (Reuters) – Electronics components and computer products distributor Avnet Inc (NYSE:AVT) posted an adjusted quarterly profit that missed estimates, hurt by a drop in profit margins due to the regional business mix. The company posted a fourth-quarter net loss of $30 million, or 20 cents a share, compared with net income of $144.1 […]

Aug 5, 2009
Channel Insider content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

Aug 5 (Reuters) – Electronics components and computer products distributor Avnet Inc (NYSE:AVT) posted an adjusted quarterly profit that missed estimates, hurt by a drop in profit margins due to the regional business mix.

The company posted a fourth-quarter net loss of $30 million, or 20 cents a share, compared with net income of $144.1 million, or 95 cents a share, a year earlier.

Excluding items, the company posted a profit of 32 cents per share, according to Reuters Estimates.

Pro-forma revenue fell 25 percent to $3.77 billion.

Pro-forma revenue is adjusted for the impact of acquisitions to include the revenue recorded by these businesses as the acquisitions had occurred at the beginning of fiscal 2008, the company said.

Sales in the technology solutions segment fell 18 percent and 21 percent in Americas and Europe, Middle East and Africa (EMEA), respectively their higher margin markets, while in Asia they were up 23 percent.

Analysts were expecting a profit of 35 cents a share, excluding items, on revenue of $3.72 billion, according to Reuters Estimates.

For the first quarter of fiscal 2010, the company expects a profit of 29 cents to 37 cents a share, excluding stock-based compensation expense. It sees revenue of $3.6 billion to $4.2 billion.

Analysts are expecting a profit of 37 cents, on revenue of $3.7 billion.

Shares of the company closed at $25.58 Tuesday on New York Stock Exchange.

(Reporting by Mansi Dutta in Bangalore; Editing by Maju Samuel)
 

Recommended for you...

Mission Announces New Multi-Product Solutions in AWS Marketplace
Jordan Smith
Dec 10, 2025
CrewAI CEO: Human Trust is Core to Autonomous AI Agents
Jordan Smith
Dec 9, 2025
Sparklight Launches Partner Solutions Program
Jordan Smith
Dec 8, 2025
ISC2 Report Shows AI Excitement, Risk Worry, and Burnout
Channel Insider Logo

Channel Insider combines news and technology recommendations to keep channel partners, value-added resellers, IT solution providers, MSPs, and SaaS providers informed on the changing IT landscape. These resources provide product comparisons, in-depth analysis of vendors, and interviews with subject matter experts to provide vendors with critical information for their operations.

Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved

Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.