Avnet Reports Third Quarter Fiscal 2020 Financial Results

Historical Segment Financial Information

 

 

 

 

 

Fiscal Year 2020

 

 

 

 

 

Quarters Ended

 

 

 

 

Third Quarter

 

Second Quarter

 

First Quarter

 

 

Fiscal Year

 

March 28,

 

December 28,

 

September 28,

 

 

2020*

 

2020*

 

2019

 

2019

 

 

(in millions)

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

12,472.5

 

 

$

3,974.7

 

 

$

4,203.6

 

 

$

4,294.2

 

Farnell

 

 

1,002.1

 

 

 

335.1

 

 

 

331.2

 

 

 

335.8

 

Avnet sales

 

$

13,474.6

 

 

$

4,309.8

 

 

$

4,534.8

 

 

$

4,630.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

290.3

 

 

$

84.8

 

 

$

93.1

 

 

$

112.3

 

Farnell

 

 

65.1

 

 

 

23.4

 

 

 

20.0

 

 

 

21.8

 

 

 

 

355.4

 

 

 

108.2

 

 

 

113.1

 

 

 

134.1

 

Corporate expenses

 

 

(95.4

)

 

 

(37.8

)

 

 

(30.9

)

 

 

(26.7

)

Restructuring, integration and other expenses

 

 

(58.1

)

 

 

(19.2

)

 

 

(14.3

)

 

 

(24.6

)

Goodwill and intangible asset impairment expense

 

 

(145.8

)

 

 

(145.8

)

 

 

-

 

 

 

-

 

Amortization of acquired intangible assets and other

 

 

(62.6

)

 

 

(21.1

)

 

 

(21.4

)

 

 

(20.1

)

Avnet operating income (loss)

 

$

(6.5

)

 

$

(115.8

)

 

$

46.5

 

 

$

62.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

3,605.9

 

 

$

1,203.6

 

 

$

1,186.6

 

 

$

1,215.8

 

EMEA

 

 

4,409.3

 

 

 

1,512.5

 

 

 

1,425.8

 

 

 

1,470.9

 

Asia

 

 

5,459.4

 

 

 

1,593.7

 

 

 

1,922.4

 

 

 

1,943.3

 

Avnet sales

 

$

13,474.6

 

 

$

4,309.8

 

 

$

4,534.8

 

 

$

4,630.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2019

 

 

 

 

Quarters Ended

 

 

 

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

 

Fiscal Year

 

June 29,

 

March 30,

 

December 29,

 

September 29,

 

 

2019*

 

2019

 

2019

 

2018

 

2018

 

 

(in millions)

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

18,060.3

 

 

$

4,337.5

 

 

$

4,331.3

 

 

$

4,680.7

 

 

$

4,710.8

 

Farnell

 

 

1,458.3

 

 

 

343.4

 

 

 

367.5

 

 

 

368.3

 

 

 

379.1

 

Avnet sales

 

$

19,518.6

 

 

$

4,680.9

 

 

$

4,698.8

 

 

$

5,049.0

 

 

$

5,089.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

614.9

 

 

$

141.1

 

 

$

153.3

 

 

$

158.6

 

 

$

161.9

 

Farnell

 

 

159.3

 

 

 

33.2

 

 

 

45.7

 

 

 

39.6

 

 

 

40.8

 

 

 

 

774.2

 

 

 

174.3

 

 

 

199.0

 

 

 

198.2

 

 

 

202.7

 

Corporate expenses

 

 

(78.5

)

 

 

(18.0

)

 

 

(20.9

)

 

 

(19.4

)

 

 

(20.2

)

Restructuring, integration and other expenses

 

 

(108.1

)

 

 

(28.2

)

 

 

(2.9

)

 

 

(62.3

)

 

 

(14.8

)

Goodwill and intangible asset impairment expense

 

 

(137.4

)

 

 

(137.4

)

 

 

-

 

 

 

-

 

 

 

-

 

Amortization of acquired intangible assets and other

 

 

(84.3

)

 

 

(20.7

)

 

 

(22.1

)

 

 

(20.5

)

 

 

(20.9

)

Avnet operating income (loss)

 

$

365.9

 

 

$

(30.0

)

 

$

153.1

 

 

$

96.0

 

 

$

146.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

5,135.8

 

 

$

1,266.3

 

 

$

1,297.2

 

 

$

1,300.4

 

 

$

1,271.8

 

EMEA

 

 

6,762.9

 

 

 

1,638.5

 

 

 

1,740.9

 

 

 

1,668.6

 

 

 

1,714.9

 

Asia

 

 

7,619.9

 

 

 

1,776.1

 

 

 

1,660.7

 

 

 

2,080.0

 

 

 

2,103.2

 

Avnet sales

 

$

19,518.6

 

 

$

4,680.9

 

 

$

4,698.8

 

 

$

5,049.0

 

 

$

5,089.9

 

______________________________
* May not foot/cross foot due to rounding

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