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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (68198)	10/27/1999 10:56:00 AM
From: kathyh	Read Replies (1) \| Respond to of 90042

Wednesday October 27, 10:35 am Eastern Time Avnet Q1 share rises First Call/Thomson Financial Q1 estimate was $0.75. PHOENIX, Oct 27 (Reuters) - AVNET, INC. CONSOLIDATED STATEMENTS OF INCOME (THOUSANDS EXCEPT PER SHARE DATA) FIRST QUARTERS ENDED OCT 1, 1999 OCT 2, 1998 Sales $1,654,323 $1,581,603 Cost of sales 1,423,520 1,349,693 Gross profit 230,803 231,910 Operating expenses 182,360 190,784 Operating income 48,443 41,126 Other income, net 813 693 Interest expense (9,866) (13,148) Income before income taxes 39,390 28,671 Income taxes 17,244 13,013 Net Income 22,146 15,658 Earnings per share: Basic 0.63 0.43 Diluted 0.63 0.42 Shares used to compute earnings per share: Basic 35,200 36,428 Diluted 35,405 36,956 EXCLUDING SPECIAL ITEMS Sales $ 1,654.3 $ 1,581.6 Income before income taxes 45.5 55.2 Net income 26.1 31.4 Earnings per share: Basic 0.74 0.86 Diluted 0.74 0.85 NOTE: Fiscal 2000 first quarter results include the impact of incremental special charges associated with the reorganization of the company's Electronics Marketing European operation amounting to $6.1 million pre-tax, $4.0 million after-tax and $0.11 per share on a diluted basis. Fiscal 1999 first quarter results include the impact of incremental special charges associated with the reorganization of the company's Electronic Marketing Group amounting to $26.5 million pre-tax, $15.7 million after-tax and $0.43 per share on a diluted basis. -------------------------------------------------------------------------------- More Quotes and News: Avnet Inc (NYSE:AVT - news) Related News Categories: US Market News