Avnet, Inc. (NYSE: AVT), Phoenix, AZ, a distributor of electronic components, computer products and embedded technology, reported sales for the first quarter ended Sept. 28, were $6.3 billion, up 8.1 percent over the same period a year ago. Organically, sales increased 3.7 percent.
Profit increased 20 percent to $120.6 million.
In the Electronics Marketing segment, sales were $3.9 billion, up 7.8 percent year-over-year. Organic sales were up 8 percent in constant currency. Sales in the Asia region (42 percent of segment sales) drove the increase, growing 16.6 percent. Sales in EMEA (28 percent of segment sales) grew 14.5 percent, and sales in the Americas (30 percent of segment sales) fell 6.8 percent.
Technology Solutions segment sales were $2.4 billion, up 8.6 percent year-over-year. Organic sales were down 3 percent in constant currency. Sales in the Americas (53 percent of segment sales) grew 10.7 percent, while sales in EMEA (29 percent of segment sales) grew 9.3 percent. Sales in Asia (18 percent of segment sales) grew 1.8 percent.
