Avnet, Inc. (NYSE: AVT), Phoenix, AZ, reported sales for the third quarter ended April 2, 2011, were $6.7 billion, an increase of 40 percent over the same period a year ago. Organic sales increased 18 percent. Profit increased 32 percent to $151 million.
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Fiscal year-to-date, sales were $19.6 billion, an increase of 41 percent over the first nine months of fiscal 2010. Profit improved 60 percent to $430.2 million.
Electronics Marketing segment sales increased 36 percent to $3.9 billion. Double-digit increases were posted in all geographic regions.
Technology Solutions ales increased 13 percent to $2.7 billion, led by increased sales in the Americas (20.4 percent) and Asia (30 percent).
\”While it is difficult to gauge the impact of the Japan earthquake and tsunami on our June quarter revenue, we continue to work closely with our suppliers to understand what products are most impacted and meet the needs of our supply chain customers,\” the company wrote in a press release.
Avnet is a distributor of electronic components, computer products and embedded technology.
