Avnet reported Aug. 5 that sales jumped 47.7% year over year to a record $8.30 billion during its fiscal 2026 fourth quarter, which ended June 27. Sales increased 16.5% sequentially.

The Phoenix-based electronics distributor posted 4Q net income of $126.6 million, compared with $6.1 million a year earlier.

Adjusted operating income more than doubled to $317.9 million, while adjusted operating margin expanded 129 basis points to 3.8%. Avnet said operating profit grew at more than 2.5 times the rate of sequential sales growth.

“Momentum continues to build across all regions, end markets and customer segments, giving us increasing confidence in our competitive position,” CEO Phil Gallagher said. “As demand improves and mass market activity continues to accelerate, we are entering fiscal 2027 with great momentum.”

Sales increased across each of Avnet’s regions, including gains of 55% in the Americas, 44% in EMEA and 46% in Asia. Electronic Components sales rose 49% to $7.80 billion, while Farnell sales increased 29% to a record $500 million.

Avnet said every end market delivered double-digit year-over-year and sequential growth, led by data centers, networking, aerospace and defense and industrial applications. Book-to-bill ratios were well above parity in all regions, while lead times increased across most product categories. Pricing also increased during the quarter, which Avnet said was almost entirely related to memory products.

For the full fiscal year, Avnet’s sales increased 24.5% to $27.63 billion. Net income increased to $334.4 million from $240.2 million.

Avnet expects fiscal 1Q27 sales of $9.0 billion-$9.3 billion. The sales midpoint represents approximately 10% sequential growth, with gains expected across all Electronic Components regions and Farnell.