Global technology distributor Avnet, Inc. today reported its fourth quarter and fiscal year 2014 results. Its Q4 results were better than expected after a weaker than anticipated Q3 and fiscal year results marked Avnet’s return to year-over-year growth.
Sales grew by 8 percent to nearly $27.5 billion, and CEO Rick Hamada said “meaningful improvements” were made in FY2014, including adding $2 billion to Avnet’s top line, expanding margins and returns, and growing adjusted diluted earnings per share by 16.8 percent.
Avnet expects EM sales to be between $4.1 and $4.4 billion and TS sales to be in the range of $2.3 billion and $2.6 billion in Q1 2014.
The full report can be found here.
