The 2020 Mid-Year Economic Update_long

Avnet Sales Down 9.3% in Fiscal 2Q

Year-to-date sales down 4 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 second quarter ended Jan. 2 of $6.8 billion, down 9.3 percent over the same period a year ago. Profit decreased 4.7 percent to $156 million.

Electronics marketing sales for the quarter were down 7.2 percent year-over-year to $4.1 billion, and technology solutions sales were down 12.3 percent to $2.7 billion.

Year-to-date, sales decreased 4 percent year-over-year to $13.8 billion. Profit decreased 1.8 percent to $286.3 million.

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