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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) announced a 4.8% increase in its quarterly cash dividend, raising it to $0.22 per share. The dividend will be paid on June 23, 2021, to shareholders of record as of June 9, 2021. This decision reflects Avnet's commitment to returning cash to shareholders, a result of its operational streamlining and improved financial profile. CEO Phil Gallagher emphasized the increase as a sign of confidence in their growth strategy and the company's ability to generate strong free cash flow.
Avnet, Inc. (Nasdaq: AVT) reported robust fiscal Q3 results for the period ending April 3, 2021, achieving $4.9 billion in sales, up 14.1% year-over-year and exceeding guidance. The company noted a significant increase in GAAP diluted earnings per share (EPS) to $1.07 compared to a loss of $1.29 in the prior year. Non-GAAP adjusted EPS rose 94.7% to $0.74. Operating margins also improved, with GAAP margin up 447 basis points to 1.8%. CEO Phil Gallagher cited strong execution and strategic relationships as key drivers amid supply challenges.
Northforge Innovations has partnered with Avnet (NASDAQ: AVT) and EBV Elektronik to promote Northforge's software development services to Broadcom customers in North America and EMEA. Northforge is the sole Broadcom Authorized Development Collaborator for the StrataDNX line. The partnership aims to leverage Northforge's expertise, reducing design cycles and improving customer product development efficiency.
Avnet (Nasdaq: AVT) will report its financial results for the third quarter of fiscal year 2021 on April 28 after market close. CEO Phil Gallagher and CFO Tom Liguori will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results and provide updates. Participants can access the call by dialing 877-407-8112 or 201-689-8840. Additional details, including a replay, will be available on Avnet’s Investor Relations web page. Avnet is a century-old technology solutions provider supporting customers throughout the product lifecycle.
Avnet (AVT) announced a quarterly cash dividend of $.21 per share, approved by its Board of Directors on February 18, 2021. The dividend will be distributed on March 24, 2021 to shareholders on record as of March 10, 2021. This move reflects the company's commitment to returning value to its shareholders.
Avnet (Nasdaq: AVT) announced that its CEO Phil Gallagher, CFO Tom Liguori, and VP of Treasury & Investor Relations Joe Burke will participate in a virtual fireside chat at the 42nd Annual Raymond James Institutional Investors Conference on March 1 at 10:00 a.m. EST. The event will be webcast live on Avnet’s Investor Relations section, with a subsequent replay available. Avnet, a leader in technology distribution, supports customers throughout the product lifecycle, enhancing the design and supply process for faster revenue realization.
Avnet (Nasdaq: AVT) and ON Semiconductor (Nasdaq: ON) have collaborated to streamline the development of Internet of Things (IoT) devices. Their framework simplifies the creation of IoT-enabled products through rapid prototyping solutions and Avnet’s IoTConnect® Platform, powered by Microsoft® Azure. The initial offering includes the RSL10 Sensor Development Kit, featuring low-power Bluetooth® technology and various environmental sensors. This partnership aims to reduce complexity for original equipment manufacturers (OEMs), allowing faster market delivery and improved product differentiation.
Avnet (AVT) announced that its CEO Phil Gallagher, CFO Tom Liguori, and VP of Treasury & Investor Relations Joe Burke will engage in a virtual fireside chat at the Goldman Sachs Technology and Internet Conference 2021 on February 11 at 9:40 a.m. EST. The event will be available for live streaming on Avnet’s Investor Relations website and a replay will be accessible afterward. Avnet continues to play a significant role in the technology distribution and solutions sector, supporting customers throughout the product lifecycle.
Avnet, Inc. (Nasdaq: AVT) reported its Q2 2021 results, showcasing sales of $4.7 billion, a 2.9% increase from the previous year, driven by record sales in Asia of $2.2 billion. GAAP diluted EPS was $0.19, a significant improvement from a loss in the prior quarter. Non-GAAP adjusted EPS rose 33% to $0.48. Operating income margin improved to 1.2%. The company achieved net working capital of 75 days, generating $85 million in cash flow. Avnet aims for Q3 sales guidance of $4.3B to $4.7B with non-GAAP EPS between $0.52 and $0.58.
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