avnet inc (AVT) Key Developments
RGS Announces the Release of the RGS Object Storage for Active Data Solution
Sep 10 14
RGS announced the release of the RGS Object Storage for Active Data solution. Developed by RGS in conjunction with Amplidata, the RGS Object Storage for Active Data solution is capable of handling zettabytes of data and trillions of stored objects under a single global namespace. It will be available through RGS's network of value-added resellers, managed service providers and integrated software vendors in the Americas. Conventional storage is no longer suitable for the enormous amounts of data organizations create each day. They need new -- highly scalable and flexible -- options. Powered by Amplidata's Himalaya intelligent multi-threaded grid storage architecture, the RGS Object Storage for Active Data is designed to scale capacity and throughput performance independently, using simple building blocks consisting of 1U Control Nodes and 1U high-density Storage Nodes connected via a 10 GbE/1 GbE fabric. To optimize cost and performance, the RGS Object Storage solution uses standard Intel Xeon processor based x86 servers and storage nodes powered by Amplidata's patented BitSpread and BitDynamics technologies. These systems can seamlessly accommodate additional storage nodes with higher capacity drives as well as anywhere, anytime data availability from a global namespace, all while using nearly 60% less raw capacity than comparable RAID-based replicated systems. The RGS Object Storage for Active Data solution includes: Patented BitSpread and BitDynamics technologies and Himalaya storage architecture from Amplidata; Linear performance scaling using rate-less erasure coding optimized to get the most out of the newest Intel processors; 15 nines data durability; Global namespace and single pane management; The ability to dynamically scale system throughput performance by adding one or more controllers without disruption. The RGS Object Storage solution is fully supported by Avnet, and includes installation and support by professionally trained RGS technicians.
Avnet Seeks Acquisitions
Sep 9 14
Avnet, Inc. (NYSE:AVT) is seeking acquisitions. Gerry Fay, President EM Global of Avnet, said, "At the end of the day for us, acquisition is always about what our core strategy is. So we look for accelerating core strategies by looking for acquisition targets that fit those strategies. So most simply, anywhere where we have either line card shortfalls or we're not strong in a market, we would look to acquire companies that would meet our profit goal projections in those areas. And outside of that, I think we look for acquisitions around some of the adjacencies we're investing in, such as embedded." Gerry Fay added, "I think we're also making investments in the Web, and I think there's properties around the Web that, given the right price, we would look at acquiring those properties also."
Avnet, Inc. Announces Increase in Quarterly Dividend, Payable on September 19, 2014
Aug 8 14
Avnet, Inc. announced that its Board of Directors has approved a 7% increase in the quarterly cash dividend to $0.16 per share. The dividend will be paid on September 19, 2014, to shareholders of record as of the close of business on September 8, 2014.
Avnet, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 28, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015 Ending on September 27, 2014
Aug 6 14
Avnet, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended June 28, 2014. For the quarter, the company reported net income of $186.3 million or $1.33 per diluted share on sales of $7,048.7 million compared to net income of $126.1 million or $0.91 per diluted share on sales of $6,590.7 million reported in the same period last year. Operating income was $204.5 million against $162.8 million reported last year. Income before income taxes was $175.6 million against $127.1 million reported last year. Adjusted operating income was $244.9 million against $231.2 million reported last year. Adjusted net income was $160.1 million or $1.14 per diluted share against $141.8 million or $1.02 per diluted share reported last year. Adjusted income before income taxes was $219.3 million against $195.8 million reported last year. Cash flow from operations was $34 million for the quarter.
For the year, the company reported net income of $545.6 million or $3.89 per diluted share on sales of $27,499.7 million compared to net income of $450.1 million or $3.21 per diluted share on sales of $25,458.9 million reported in the same period last year. Operating income was $789.9 million against $626 million reported last year. Income before income taxes was $701.1 million against $549.3 million reported last year. Net cash flows provided by operating activities was $237.4 million against $696.2 million reported last year. Purchases of property, plant and equipment was $123.2 million against $97.4 million reported last year. Adjusted operating income was $931.3 million against $807.9 million reported last year. Adjusted net income was $594.1 million or $4.24 per diluted share against $507.8 million or $3.63 per diluted share reported last year. Adjusted income before income taxes was $823.7 million against $700.1 million reported last year.
For the first quarter of fiscal 2015 ending on September 27, 2014, Avnet sales are forecasted to be between $6.4 billion and $7.0 billion. Adjusted diluted earnings per share are expected to be in the range of $0.93 to $1.03 per share. EPS guidance assumes 141 million average diluted shares outstanding and a tax rate of 26% to 30%.
Avnet, Inc. Announces the Release of the RGS Cold Storage Solution
Aug 5 14
RGS, a business unit of Avnet, Inc. has announced the release of the RGS Cold Storage solution. Developed by RGS in conjunction with storage software provider Storiant, RGS Cold Storage is available through RGS' network of value-added resellers (VARs), managed service providers and integrated software vendors in the Americas. RGS Cold Storage is designed to enable end customers to optimize and manage petabyte-scale data more efficiently and cost effectively as they see a massive influx of data, including rich media, images, video, archives and more. The RGS Cold Storage Solution includes: object storage software from Storiant, fully integrated rack-level appliance, petabyte-scale cold storage and long-term archival, reduced total cost of ownership with low cost per TB, On-demand cold storage or archival and Hot serviceable drives.