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Avnet reports higher sales, lower income in latest quarter

Hayley Ringle
Avnet reports higher sales, lower income in latest quarter

Avnet Inc. reported a 12 percent sales increase while income fell $10.3 million during the second quarter. Phoenix-based Avnet Inc. (Nasdaq: AVT) reported on Thursday it earned net income of $36.4 million, or 33 cents per share, on revenue of $5.05 billion for the second quarter ended Dec. 29, 2018. Avnet’s stock closed trading higher on Thursday at $41.65, closer to its 52-week high of $49.41 than its low of $33.55.