Avnet Sales Up 8% in Fiscal 2014

Profit increased 21 percent year-over-year.

Avnet, Inc. (NYSE: AVT), Phoenix, AZ, No. 1 on MDM's 2014 list of top electronics distributors, reported sales for the fiscal year ended June 28 of $27.5 billion, an 8 percent increase over the same period a year ago. Profit increased 21 percent to $545.6 million.

“Led by double digit growth in our electronics marketing businesses in Asia and EMEA, enterprise revenue increased 8 percent and organic revenue was up 5 percent,” said Rick Hamada, CEO.

For the fourth quarter, sales were $7 billion, up 6.9 percent over the same period one year ago. Profit increased 47.7 percent to $186.3 million.

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