Avnet clocks $6.43 billion in its first quarter

Recently world’s leading IT distributor, Avnet reported impressive numbers of $6.43 billion worldwide sales for the first quarter results of the fiscal year 2012, which is an increase of 3.9% year over year.

Avnet Technology Solutions experienced solid year over year improvements in profitability and returns during the quarter. Gross profit margin improved 75 basis points sequentially and 37 basis points year over year. In addition, operating income increasing 14.7% year over year, and operating income margin increasing 28 basis points year over year to 2.5%.

Avnet Technology Solutions continues to focus on geographic markets and data center technologies with high growth potential in order to expand its data center solutions sales. During the quarter, software sales grew greater than 40% year over year, while hardware sales grew more than 30%, led by industry standard servers and storage. Services revenue also grew by double digits year over year.

Rick Hamada, Chief Executive OfficerAvnet said, “Our team delivered a strong Q1 performance despite a challenging macro environment.”

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