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Avnet Inc. (NYSE: AVT), Phoenix, AZ, No. 1 on MDM's 2016 list of top electronics distributors, reported sales for the first quarter ended Oct. 3 of $6 billion, down 13.3 percent over the same period a year ago. Profit decreased 47.1 percent to $68.8 million.
Electronics marketing sales for the fiscal first quarter were down 9.3 percent year-over-year to $4.2 billion, and technology solutions sales were down 21.2 percent to $1.9 billion.
The company recently announced the sale of its technology solutions business to Tech Data Corp. for $2.6 billion.