Avnet Inc. (Nasdaq: AVT), a global technology distributor and solutions provider, reported sales for its 2023 fiscal year were $24.3 billion, up 9.2% from the previous year. Net income for the fiscal year was $771 million, up 11.3% from the prior year.
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Avnet also reported sales for its fiscal 2023 fourth quarter were $6.4 billion, up 2.9% from the prior-year period. Net income for the quarter was $155 million, down 37.1% from the prior-year period.
“Our strong financial results in fiscal 2023 demonstrate the dedication and commitment of our employees in driving profitable growth,” said Phil Gallagher, Avnet CEO. “With the breadth of our supplier line card, our diversified customer base and the strength of the end-markets they serve, we are well-positioned to capitalize on the industry growth expected over the next several years.”
