Avnet Sales Up 1.5% in Fiscal 2015

Fourth quarter sales down 3.6 percent year-over-year.

Avnet Inc. (NYSE: AVT), Phoenix, AZ, No. 1 on MDM's 2015 list of top electronics distributors, reported sales for the fiscal year ended June 27 of $27.9 billion, a 1.5 percent increase over the same period a year ago. Profit increased 4.8 percent to $571.9 million.

“Despite the significant strengthening of the U.S. Dollar throughout fiscal 2015, the Avnet team delivered consistent improvement in our financial performance as revenue grew year over year and adjusted operating income margin expanded in all four quarters,” said Rick Hamada, CEO.

For the fourth quarter, sales were $6.8 billion, down 3.6 percent year-over-year. Profit decreased 15.1 percent to $158.7 million.

Electronics marketing sales for the fiscal fourth quarter were down slightly year-over-year to $4.3 billion, while technology solutions sales were down 9.2 percent to $2.5 billion.

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