PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Vistar Communications

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Avnet, Inc. Reports Second Quarter Fiscal Year 2011 Results - Avnet records record revenue and drives significant EPS growth (NYSE: AVT)
Avnet, Inc. Reports Second Quarter Fiscal Year 2011 Results

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2011/02/15 - Avnet records record revenue and drives significant EPS growth (NYSE: AVT).

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Avnet, Inc. recently announced the results for the second quarter fiscal year 2011 which ended on January 1, 2011. Avnet achieved a fourth consecutive quarter of double-digit year over year revenue growth. Record Avnet Inc. revenue of $6.8 billion USD increased 40% year over year, with organic growth up 14%. GAAP diluted earnings per share increased 33.8% year over year to $0.91.

Avnet Technology Solutions’ revenue of $3.21 billion USD grew 38% year over year and 25% sequentially. This resulted in a fifth consecutive quarter of strong year-over-year growth. Organic revenue grew 7% year over year in constant dollars.

Roy Vallee, Chairman and Chief Executive Officer, Avnet, Inc. commented, "The December quarter capped an excellent calendar year as we continued to leverage the technology driven economic recovery and delivered a fourth consecutive quarter of double-digit year-over-year organic revenue growth. Reported revenue grew 40% year over year to a record $6.8 billion and adjusted operating income grew nearly 1.5 times faster than revenue. The operating leverage in our model drove adjusted operating income margin up both sequentially and year over year, with return on capital employed (ROCE) within our target range of 14% - 16% for the fifth consecutive quarter. Both operating groups delivered ROCE above 15% in the December quarter even as we continued to invest in organic growth initiatives and value-creating M&A in all three regions. With technology markets pointing towards continued growth, we are optimistic that we can continue to grow revenue and EPS and deliver increased shareholder value going forward."

Regional revenue for Avnet Technology Solutions is mentioned below:

• Americas: $1.82 billion USD, up 30% year over year on a reported basis.
• EMEA: $1.04 billion USD, up 55% year over year (or 66% excluding the impact of foreign currency exchange rates) on a reported basis.
• Asia: $339.6 million USD, up 39% year over year on a reported basis.

Year over year growth at Avnet Technology Solutions was driven mostly by hardware refresh investments, including spending on industry standard servers, storage and networking products.

Avnet Technology Solutions expects to continue to improve its financial performance by leveraging its market position in mature markets, expanding its profitability, presence and supplier base in higher growth markets, and fully realizing the balance of expected synergy cost savings from the recent acquisitions of Bell Microproducts and Tallard Technologies.

About Avnet, Inc.
Avnet, Inc. (avnet.com), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology in the world. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers and providing cost-effective, value-added services and solutions. For the fiscal year ended July 3, 2010, Avnet generated revenue of $19.16 billion.

About Avnet Technology Solutions
As a global solutions distributor, Avnet Technology Solutions collaborates with its customers and suppliers to create and deliver effective solutions that address the business challenges of their end-user customers locally and around the world. For fiscal year 2010, the group served customers in more than 30 countries and generated US $8.19 billion in annual revenue. Avnet Technology Solutions is an operating group of Avnet, Inc.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Vistar Communications

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


Avnet, Inc. Reports Second Quarter Fiscal Year 2011 Results

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Vistar | Avnet
Publisher Contact: Sanjeev Kant - Vistarmea.com 
+971 4 420 1517 sanjeev[.]vistarmea.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Vistar Communications securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Vistar Communications / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Societe Generale Group has Agreed to Sell the Entire Stake of Boursorama in Onvista AG to Comdirect Bank AG
Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations
Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)