Avnet Inc Profit Climbs 7% In Q3

(RTTNews) - Avnet Inc (AVT) announced earnings for its third quarter that gained ground compared to the same period last year.

The company said its bottom line climbed to $114.3 million, or $0.88 per share. This was up from $107.1 million, or $0.81 per share, in last year's third quarter.

The company said revenue for the quarter rose 8.8% to $4.44 billion. This was up from $4.08 billion last year.

Avnet Inc earnings at a glance:

-Earnings (Q3): $114.3 Mln. vs. $107.1 Mln. last year. -Earnings Growth (Y-o-Y): 6.7% -EPS (Q3): $0.88 vs. $0.81 last year. -EPS Growth (Y-o-Y): 8.6% -Revenue (Q3): $4.44 Bln vs. $4.08 Bln last year. -Revenue Change (Y-o-Y): 8.8%

-Guidance: Next quarter EPS guidance: $0.72 - $0.82 Next quarter revenue guidance: $4.35 - $4.65 Bln