The 2020 Mid-Year Economic Update_long

Avnet’s Sales Up 9%

Asia leads regional sales growth with 18 percent increase over year-ago period.

Avnet Inc. (NYSE: AVT), Phoenix, AZ, reported sales of $5.09 billion for its fiscal 2019 first quarter, ended September 29—up 9.2 percent over the prior-year period.

The distributor of electronic components and solutions reported sales gains across all regions: Sales in the Americas rose 7.3 percent to $1.3 billion; sales in Europe, the Middle East and Africa rose 1.3 percent to $1.7 billion; and sales in Asia saw the largest increase, rising 18 percent to $2.1 billion.

Avnet CEO Bill Amelio pointed to the company’s expanded portfolio of services as a key growth driver, citing growth with existing and new, non-traditional customers.

 

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