Avnet Q4 Profit Soars - Quick Facts

(RTTNews) - Semiconductors supplier Avnet, Inc. (AVT) Wednesday reported fourth-quarter net earnings which increased on the back of revenue growth.

For the 3-month period, net earnings surged to $186.3 million or $1.33 per share, from $126.1 or $0.91 per share a year earlier.

Adjusted earnings totaled $160.1 million or $1.14 per share, compared with $141.8 million or $1.02 per share a year ago.

On average, eleven analysts polled by Thomson-Reuters estimated the company's earnings to be $1.10 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales increased by 6.9 percent to $7.05 billion, from $6.59 billion last year, above the $6.94 billion Wall Street expected

For fiscal 2015, the company issued a mixed outlook, even though it saw "some encouraging signs in certain end markets."

For the September quarter, Avnet expects adjusted earnings of $0.93 to $1.03 per share on sales of $6.4 billion to $7 billion, on a constant currency basis.

Analysts expect earnings of $0.99 per share on sales of $6.76 billion.