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Sales: Reported a decrease to $6.2 billion, a 7.6% year-over-year decline.
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Operating Income: Dropped by 21% year-over-year to $236.3 million.
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Diluted EPS: GAAP EPS at $1.28, a significant decrease from $2.63 the previous year.
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Adjusted Diluted EPS: Non-GAAP EPS at $1.40, down 30% year-over-year.
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Electronic Components Margin: Operating margin decreased to 4.3% from 4.7% year-over-year.
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Balance Sheet: Total assets increased to $12.99 billion from $12.48 billion as of July 1, 2023.
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Cash Flow: Operating activities resulted in a cash use of $83.6 million for the six months ended December 30, 2023.
On January 31, 2024, Avnet Inc (NASDAQ:AVT) released its 8-K filing, detailing the financial results for its second quarter ended December 30, 2023. The global distributor of electronic components reported a decrease in sales to $6.2 billion, a 7.6% year-over-year decline, and a 2.1% decrease from the…
