Farnell has record revenue year

Author: EIS Release Date: Sep 23, 2022

Farnell had record-setting fiscal year revenue of $1.8 billion.

 

The strong performance, with full year revenue increasing 20.2% year-over-year, was the result of notable increases in demand from the electronics, energy, security and transportation sectors.

 

Farnell reported Q4 revenues of $442 million and an operating income margin of 14.2%, which was an increase of 597 basis points year-over-year.

 

Farnell’s ongoing investment in stock had a positive impact with more than 18,000 new products added in Q4 alone.

 

An expansive inventory remains a key factor in the company’s success and is a key priority for the Avnet group. Farnell was central to owner Avnet’s operating margin of 4.5% in the quarter.

 

Farnell’s commitment to enhancing customer experience on its e-commerce platform continues to yield substantive results. Nearly 56% of Farnell’s total sales and 72% of total orders transacted were placed through the company’s e-commerce platform this quarter.