Avnet Reports First Quarter Fiscal 2019 Financial Results
Sales from suppliers lost as a result of supplier channel changes were
$26.5 million, $43.2 million and $37.0 million in the first quarter of
fiscal 2018 for the Americas, EMEA and Asia regions, respectively.
Historical Segment Financial Information
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First Quarter
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September 29,
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2018
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(in millions)
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Sales:
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Electronic Components
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$
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4,710.8
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Premier Farnell
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379.1
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Avnet sales
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$
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5,089.9
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Operating income:
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Electronic Components
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$
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161.9
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Premier Farnell
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40.8
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202.7
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Corporate expenses
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(20.2
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)
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Restructuring, integration and other expenses
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(14.8
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Amortization of acquired intangible assets and other
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(20.9
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Avnet operating income
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$
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146.8
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Sales by geographic area:
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Americas
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$
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1,271.8
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EMEA
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1,714.9
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Asia
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2,103.2
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Avnet sales
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$
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5,089.9
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Fiscal Year 2018
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Quarters Ended
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Fourth Quarter
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Third Quarter
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Second Quarter
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First Quarter
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Fiscal Year
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June 30,
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March 31,
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December 30,
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September 30,
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2018*
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2018
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2018*
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2017
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2017
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(in millions)
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Sales:
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Electronic Components
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$
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17,543.6
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$
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4,668.7
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$
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4,404.1
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$
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4,163.5
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$
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4,307.2
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Premier Farnell
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1,493.3
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390.5
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391.0
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358.1
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353.7
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Avnet sales
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$
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19,036.9
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$
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5,059.2
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$
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4,795.1
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$
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4,521.6
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$
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4,660.9
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Operating income: (1)
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Electronic Components
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$
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587.3
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$
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160.1
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$
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157.7
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$
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129.9
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$
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139.6
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Premier Farnell (1)
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152.0
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43.7
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42.2
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33.5
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32.6
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739.3
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203.8
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199.9
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163.4
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172.2
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Corporate expenses (1)
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(111.7
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)
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(23.8
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)
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(29.2
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(23.1
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(35.6
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Restructuring, integration and other expenses
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(145.1
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(36.8
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(25.1
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(36.8
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(46.4
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Goodwill impairment expense
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(181.4
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-
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(181.4
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-
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-
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Amortization of acquired intangible assets and other
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(91.9
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(21.7
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(22.7
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(21.9
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(25.6
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Avnet operating income (loss) (1)
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$
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209.2
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$
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121.5
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$
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(58.5
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$
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81.6
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$
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64.6
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Sales by geographic area:
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Americas
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$
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5,011.4
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$
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1,339.2
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$
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1,276.4
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$
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1,210.2
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$
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1,185.5
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EMEA
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6,790.9
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1,779.6
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1,812.3
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1,506.0
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1,693.0
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Asia
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7,234.6
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1,940.4
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1,706.3
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1,805.4
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1,782.4
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Avnet sales
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$
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19,036.9
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$
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5,059.2
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$
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4,795.1
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$
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4,521.6
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$
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4,660.9
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(1) Certain prior year amounts in the Company’s
measurement of operating income have been recasted to reflect the
adoption of new accounting standards during fiscal 2018.
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* May not foot/crossfoot due to rounding
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