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15 Dec 2009
Distribution powerhouse Avnet has increased its projections for Q2 revenue and profit after making a flying start to the quarter.
Avnet's second fiscal quarter closes on 2 January and the Phoenix-based firm claims its performance to date has been "stronger than expected". Revenue from Avnet's Electronics Marketing group is now projected to be between $2.375bn (£1.46bn) and $2.475bn, up from the company's previous forecast of $2.15bn to $2.45bn.
Sales projections for the distributor's Technology Solutions unit remain in the previously given range of $1.95bn to $2.25bn. Avnet cautioned that its overall Q2 performance would hinge on December's billings, which are liable to provide more than half of total turnover.
Further reading
The distributor now expects total sales for the quarter to be between $4.325bn and $4.725bn. The previous projection, given on 23 October, claimed revenue would be in the range of $4.1bn to $4.7bn. Q2 earnings per share are now forecast to be in the range of $0.56 to $0.62, up from the earlier prediction of $0.52 to $0.60.
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