Avnet Q2 Results Beat Consensus - Quick Facts

(RTTNews) - Semiconductors supplier Avnet, Inc. (AVT) posted higher GAAP net income of $163.7 million, or $1.18 per share, for the second quarter of fiscal 2015, compared with $124.9 million, or $0.89 per share, in the prior-year quarter.

For the latest quarter, adjusted net income amounted to $176.0 million, or $1.27 per share. On average, 10 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.21 per share for the quarter. Analysts' estimates typically exclude one-time items.

Year-over-year, quarterly sales rose by 1.8% to $7.55 billion from $7.42 billion. Wall Street expected revenue of $7.35 billion for the quarter.