Avnet Inc Q1 adjusted earnings Beat Estimates

(RTTNews) - Avnet Inc (AVT) released a profit for its first quarter that climbed from the same period last year.

The company's bottom line came in at $83.72 million, or $0.72 per share. This compares with $58.30 million, or $0.47 per share, in last year's first quarter.

Analysts had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.2% to $5.09 billion from $4.66 billion last year.

Avnet Inc earnings at a glance:

-EPS (Q1): $1.03 vs. $0.76 last year. -Analysts Estimate: $1.02 -Revenue (Q1): $5.09 Bln vs. $4.66 Bln last year.