Avnet, Inc.
Industry: Electronic Instr. & Controls

Avnet Electronics Marketing is the largest operating group of Phoenix-based Avnet Inc., a Fortune 500 company with sales of $12.8 billion in fiscal year 2001 (year ended June 30, 2001). One of the world's largest technology marketing and services companies, Avnet Electronics Marketing distributes semiconductors, interconnect, passive and electromechanical components from leading manufacturers.

Business Summary
Avnet, Inc. (Avnet) is an industrial distributor of electronic components, enterprise network and computer equipment and embedded subsystems. Memec Group Holdings Limited (Memec) was acquired by Avnet on July 5, 2005. Avnet creates a link in the technology supply chain that connects over 300 electronic component and computer product manufacturers and software developers as a single source for multiple products for a global customer base of over 100,000 original equipment manufacturers (OEMs), contract manufacturers, original design manufacturers, value-added resellers (VARs) and end users. In addition, Avnet provides engineering design, materials management and logistics services, system integration and configuration, and supply chain advisory services. Avnet is comprised of two operating groups called Electronics Marketing (EM) and Technology Solutions (TS).

Financial Summary
Avnet distributes B2B semiconductors, interconnect, passive & electromechanical compenents, enterprise network & computer equipment & embedded subsystems. For the FY ended 7/02/05, sales rose 8% to $11.07B. Net income totaled $168.2M, up from $72.9M. Revenues reflect rise in Electronics Marketing & Technology Solutions segments. Higher net income reflects absence of restructuring charge, lower interest expense & higher operating margins.