Avnet, Inc. Reports Fourth Quarter Fiscal Year 2013 Results

Revenue Growth Drives Sequential Improvement in Earnings and Cash Flow

PHOENIX — (BUSINESS WIRE) — August 7, 2013Avnet, Inc. (NYSE: AVT) today announced results for the fourth quarter and fiscal year ended June 29, 2013.

Q4 Fiscal 2013 Results

    Fourth Quarter Ended
June 29,     June 30,    
2013 2012 Change
  $ in millions, except per share data
Sales $ 6,590.7 $ 6,307.4 4.5 %
 
GAAP Operating Income $ 162.8 $ 213.4 -23.7 %
Adjusted Operating Income (1) $ 222.7 $ 233.9 -4.8 %
 
GAAP Net Income $ 126.1 $ 133.4 -5.5 %
Adjusted Net Income (1) $ 135.8 $ 145.3 -6.5 %
 
GAAP Diluted EPS $ 0.91 $ 0.91 0.0 %
Adjusted Diluted EPS (1) $ 0.98 $ 0.99 -1.0 %

(1)

 

A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the Non-GAAP Financial Information section in this press release.

 

  • Sales for the quarter ended June 29, 2013 increased 4.5% year over year to $6.59 billion; organic revenue (as defined later in this release) was up 0.2% year over year and 0.5% in constant currency
  • Adjusted operating income decreased 4.8% year over year due primarily to a decline in gross profit margin in the EMEA region
  • Adjusted net income declined 6.5% year over year due primarily to the decline in gross profit margin and higher interest and other expenses
  • Adjusted diluted earnings per share declined 1.0% year over year to $0.98 as the decline in adjusted net income was partially offset by a lower share count as a result of the shares repurchased

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15  Next Page »



Review Article Be the first to review this article
Rand3D

Featured Video
Jobs
Mechanical Engineer I for Air Techniques, Inc at Melville, NY
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
The Rise of Mechatronics at Dassault Systèmes Santa Clara 3979 Freedom Circle, Ste 750 Santa Clara CA - Sep 14, 2017
The 30th Annual Integrated Process Excellence Symposium & Training at Wyndham Grand Bonnet Creek Resort Orlando FL - Sep 18 - 20, 2017
Kenesto: 30 day trial



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise