Avnet, Inc. (AVT) has announced a decrease in their net income for the second quarter, dipping to $117.93 million from the previous year's $243.89 million. Earnings per share also experienced a fall, standing at $1.28, compared to last year's $2.63. On adjusting the earnings per share, it measured at $1.40, contrasting with the previous $2.00. A poll of seven analysts by Thomson Reuters had anticipated an average profit per share of $1.40 for the quarter, without considering any special items.
Contrasting with the previous year quarter's $6.7 billion, second quarter sales were reported at $6.2 billion. Analysts had foreseen the revenue to be approximately $6.16 billion.
As for the third quarter, the company is projecting an earnings per share within the range of $1.05 to $1.15, and sales anticipating to be between $5.55 billion and $5.85 billion.
