AVT

Avnet Inc Q1 adjusted earnings Miss Estimates

(RTTNews) - Avnet Inc (AVT) reported earnings for first quarter that dropped from the same period last year.

The company's earnings totaled $41.75 million, or $0.40 per share. This compares with $83.53 million, or $0.72 per share, in last year's first quarter.

Excluding items, Avnet Inc reported adjusted earnings of $62.34 million or $0.60 per share for the period.

Analysts had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.0% to $4.63 billion from $5.09 billion last year.

Avnet Inc earnings at a glance:

-Earnings (Q1): $62.34 Mln. vs. $119.68 Mln. last year. -EPS (Q1): $0.60 vs. $1.03 last year. -Analysts Estimate: $0.65 -Revenue (Q1): $4.63 Bln vs. $5.09 Bln last year.

-Guidance: Full year EPS guidance: $0.35 – $0.45 Full year revenue guidance: $4.2B – $4.6B

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.