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Avnet, Inc. (NASDAQ: AVT) is a global leader in electronic components distribution, dedicated to advancing technological innovation. With a presence in 125 countries and a team of 15,000 professionals, Avnet bridges the gap between suppliers and customers in the electronics industry. The company supports all phases of the technology lifecycle, from initial design to final production.
Avnet caters to startups and established manufacturers alike, providing crucial resources such as design tools, test kits, and supply chain services. As the third-largest semiconductor distributor globally, Avnet serves over 2.1 million small- and mid-sized businesses in 140 countries. The company's European distribution network is particularly noteworthy, being the largest in the region.
Recent achievements include innovative partnerships and cutting-edge projects aimed at accelerating technological advancements. Avnet’s engineers and support teams are at the forefront of these developments, enhancing the company’s role as a pivotal player in the tech industry.
With a strong financial foundation and a culture rooted in emerging technology, Avnet continues to guide ideas into tomorrow's technology. Whether you're an innovator at the start of your journey or a manufacturer ready to scale, Avnet provides the tools and expertise needed to succeed.
Avnet (AVT) has announced an 11.5% increase in its quarterly cash dividend, raising it to $0.29 per share. This dividend will be payable on September 28, 2022, to shareholders recorded by the close of business on September 14, 2022. CEO Phil Gallagher emphasized this increase as a commitment to sustainable shareholder returns, attributing it to strong performance in the 2022 fiscal year and expressing confidence in Avnet’s financial position and growth prospects.
Avnet (Nasdaq: AVT) announced that its CEO Phil Gallagher, incoming CFO Ken Jacobson, and VP of Treasury & Investor Relations Joe Burke will participate in Citi's 2022 Global Technology Conference on September 7 at the Hilton Hotel in New York. The fireside chat will begin at 8:15 a.m. ET and will be available via live webcast. Avnet, a leading global technology solutions provider, supports customers throughout the product lifecycle, enabling faster realization of revenue through innovative technology solutions.
Avnet, Inc. (Nasdaq: AVT) reported a strong fourth quarter with sales of $6.4 billion, marking a 21.9% increase year over year. The operating income margin rose to 4.5%, up 221 basis points. Fiscal 2022 sales reached $24.3 billion, a 24.5% increase, with record diluted EPS of $6.94. The company returned $25 million in dividends and $102 million in share repurchases during the quarter, representing 2.4% of outstanding shares. Looking ahead, guidance for Q1 fiscal 2023 anticipates sales between $6.20B – $6.50B and adjusted EPS between $1.85 – $1.95.
Avnet (AVT) will announce its fourth quarter and fiscal year 2022 financial results on August 10 after the market closes. Following the release, CEO Phil Gallagher, CFO Tom Liguori, and Corporate Controller Ken Jacobson will host a webcast and conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. Additionally, Avnet's Annual Shareholder Meeting is set for November 17, with a record date of September 19 for voting shareholders.
Avnet (Nasdaq: AVT) announces the transition of Chief Financial Officer Thomas Liguori, effective September 6, with Kenneth A. Jacobson, previously corporate controller, succeeding him. Liguori, who joined in 2018, will remain as a senior advisor until March 2023, aiding in the transition. CEO Phil Gallagher praised Liguori's contributions during his tenure, notably during Avnet’s 100th anniversary. Jacobson has been with Avnet since 2013 and has held significant finance responsibilities within the company.
Avnet (Nasdaq: AVT) has formed a strategic collaboration with Amazon Web Services (AWS) to enhance its IoTConnect Platform. This partnership aims to simplify and expedite IoT implementations for Original Equipment Manufacturers (OEMs) by integrating AWS's extensive services. The platform will include preconfigured IoT solutions, addressing the need for scalability, security, and reduced development overhead. Key features will encompass device management, multi-layer security, and analytics, empowering OEMs to innovate effectively.
Avnet has partnered with SciTech Institute to expand its Chief Science Officers (CSO) program internationally, targeting locations such as Chicago, Gaffney, Leeds, and Guadalajara over the next two years. This initiative aims to enhance STEM education by empowering students from sixth to twelfth grade to become ambassadors in their communities. The program has successfully expanded to 11 U.S. states and international locations including Kenya and Kuwait, currently involving approximately 1,000 students. Avnet's investment reflects its commitment to fostering future careers in science and technology.
Avnet (Nasdaq: AVT) will host its Investor Day today at
Avnet (Nasdaq: AVT) announced participation in two investor conferences in June. On June 8, Chief Financial Officer Tom Liguori and Investor Relations VP Joe Burke will attend the Stifel 2022 Cross Sector Insight Conference at 3:00 p.m. ET in Boston. On June 9, CEO Phil Gallagher, CFO Liguori, and VP Burke will join the BofA Securities 2022 Global Technology Conference at 12:30 p.m. ET in San Francisco. Both events will be webcast live, with links available on Avnet's investor relations website.
Avnet, a global technology solutions provider, declared a quarterly cash dividend of $0.26 per share on May 23, 2022. The dividend is scheduled for payment on June 22, 2022 to shareholders of record as of the close of business on June 8, 2022. This decision reflects the company's continued commitment to returning value to its shareholders.
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