Avnet's New Cloud Training Platform
Avnet Technology Solutions, an operating unit of Avnet Inc. (AVT), recently declared that its latest cloud training services are now accessible through the company’s Avnet Cloud Solutions portal. The newly-introduced platform will provide a competitive edge to the company’s independent software vendor (:ISV), managed service provider (MSP) and value-added reseller (VAR) associates based in the U.S. and Canada.
In addition, the company also partners with ITpreneurs for augmenting its cloud training service offerings. ITpreneurs has been chosen by the company for its industry-recognized customized cloud certification program.
According to management, Avnet will facilitate its channel partners to deploy the cloud-related opportunity, which is an effective service offering designed especially to take on cloud computing. Furthermore, Avnet’s latest training platform will also help its partners to improve their off-premise cloud computing businesses.
The company’s comprehensive range of products and services helped it become a leading distributor of electronic components and computer products. During the fourth quarter of fiscal 2012, revenues from Avnet’s Technology Solutions (TS) segment fell 13.8% from the year-ago quarter to $2.54 billion. The segment's revenues were slightly below management’s guidance range of $2.55 billion - $2.85 billion. We can be hopeful of a better performance by this segment in the upcoming quarters.
The company pertains to an industry, where competition is prevalent. Hence, Avnet should stay cautious of big players, such as Wesco International Inc. (WCC), Arrow Electronics Inc. (ARW) and Anixter International Inc. (AXE) in the industry.
The current Zacks Consensus Estimates for the first quarter of fiscal 2013 and for fiscal 2013 are 84 cents and $4.11, representing a year-over-year growth of (6.79)% and 1.33%, respectively. The company currently retains a Zacks #4 Rank, which translates into a short-term ‘Sell’ rating. However, we are maintaining a long-term ‘Neutral’ recommendation on the stock.
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