Avnet Sales Down 8.3% in Fiscal 3Q

Company's profit increases 1.6 percent for third quarter.

Avnet Inc. (NYSE: AVT), Phoenix, AZ, reported sales for the fiscal third quarter ended April 2 of $6.2 billion, an 8.3 percent decrease year-over-year. Profit for the quarter increased 1.6 percent to $123.5 million.

Electronics marketing sales for the fiscal third quarter were $4 billion, down 4.2 percent year-over-year. Technology solutions sales for the fiscal third quarter were down 15.3 percent to $2.1 billion.

Year-to-date sales were $20 billion, down 5.4 percent over the same period the previous year. Year-to-date profit decreased 0.8 percent to $409.7 million.

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