Avnet Sales Fell 10.2% in Fiscal 2Q

Avnet Inc. (NYSE: AVT), Phoenix, AZ, reported sales for the second quarter of $4.5 billion, down 10.2% over the same period a year ago. Profit decreased from $36.4 million to $3.7 million.

For the first six months of the year, sales decreased 8.9% to $9.2 billion. Profit decreased from $120.1 million to $45.4 million.