Last $41.78 USD
Change Today +0.63 / 1.53%
Volume 1.3M
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

avnet inc (AVT) Key Developments

Avnet, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 27, 2014; Provides Earnings Guidance for the Second Quarter Ending December 27, 2014

Avnet, Inc. reported unaudited consolidated earnings results for the first quarter ended September 27, 2014. For the quarter, the company reported sales of $6,839.587 million compared to $6,345.475 million a year ago. Operating income was $193.197 million compared to $178.987 million a year ago. Income before income taxes was $168.304 million compared to $171.942 million a year ago. Net income was $127.946 million compared to $120.624 million a year ago. Diluted earnings per share were $0.91 compared to $0.86 a year ago. Net cash used in operating activities was $40.655 million compared to $126.191 million a year ago. Purchases of property, plant and equipment was $36.580 million compared to $27.384 million a year ago. Adjusted operating income was $193.2 million compared to $179 million a year ago. Adjusted net income was $144.2 million compared to $126 million a year ago. Adjusted diluted EPS was $1.02 compared to $0.90 a year ago. Net debt (total debt less cash and cash equivalents) was approximately $1.3 billion. The company provided earnings guidance for the second quarter ending December 27, 2014. For the quarter, the company's adjusted diluted earnings per share is forecasted to be in the range of $1.15 to $1.25 per share. The company's consolidated sales are expected to be between $7 billion and $7.6 billion. This guidance does not include any potential restructuring and integration charges or the amortization of intangibles. The guidance assumes 139 million average diluted shares outstanding and an effective tax rate in the range of 27% to 31%.

Avnet, Inc. Opens CenterPoint Value-Added Services Center in Ohio

Avnet, Inc. announced the opening of its IT services facility worldwide in the Columbus, Ohio, area -- the CenterPoint Value-Added Services Center. The 580,000-square-foot, facility provides complete IT lifecycle services in one location. The all-in-one services model brings together engineering, integration, installation, logistics, fulfillment, repair, recycling, remarketing, call center, and maintenance services. CenterPoint provides services for original equipment manufacturers (OEM), system integrators (SI) and value-added reseller (VAR) partners.

Avnet, Inc. to Report Q1, 2015 Results on Oct 23, 2014

Avnet, Inc. announced that they will report Q1, 2015 results at 2:00 PM, US Eastern Standard Time on Oct 23, 2014

Avnet, Inc., Q1 2015 Earnings Call, Oct 23, 2014

Avnet, Inc., Q1 2015 Earnings Call, Oct 23, 2014

Avnet, Inc. Flips Switch on 1,000Kw Solar Project for Tempe Facility

Avnet, Inc. flipped the switch on a new 1,000kw, solar project for its Price Road, Tempe facility. The solar installation at Avnet's Tempe facility includes 924 SolarWorld "SW 270" solar panels that have been placed on the building's roof, as well as 2,800 solar panels that also serve as parking canopies and provide employees with 410 new covered parking spaces. The project features 3,724 solar panels that are estimated to generate more than 1.7 million kilowatt hours of electricity each year. Avnet expects to save approximately $130,000 in utility costs during the first year, with anticipated savings of more than $5.8 million over 25 years. The project is expected to reduce Avnet's carbon emissions by 996 metric tons annually - the equivalent of removing 210 cars from the road each year. The project is a result of collaboration between Avnet, SRP and Data Processing Air Corporation to support Avnet's and SRP's commitment to a safer, healthier, cleaner and more sustainable environment for their employees and the communities in which they live.

 

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