Avnet Inc Q4 adjusted earnings Beat Estimates

(RTTNews) - Avnet Inc (AVT) released earnings for fourth quarter that fell from the same period last year.

The company's profit came in at $58.62 million, or $0.50 per share. This compares with $81.45 million, or $0.65 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.8% to $5.06 billion from $4.61 billion last year.

Avnet Inc earnings at a glance:

-EPS (Q4): $0.99 vs. $0.84 last year. -Analysts Estimate: $0.98 -Revenue (Q4): $5.06 Bln vs. $4.61 Bln last year.

-Guidance: Next quarter EPS guidance: $0.95 - $1.05 Next quarter revenue guidance: $4.8 - $5.2 Bln