Avnet had Q3 sales of $6.5 billion for an operating income of $313 million which was up 4.9% q-o-q and 14.3% y-o-y.

Farnell’s contribution of $455 million in sales is an 11.5% increase from the previous quarter, while operating margin held steady sequentially at 9%.

Farnell’s approach to  working in conjunction with partner organisations to overcome global supply constraints, proved integral to this financial performance.

 

“Despite the impact of key product line shortages and foreign currency exchange headwinds, we have demonstrated resilience in the face of industry-wide challenges,” says Farnell president  Chris Breslin,“we will continue to strategically invest to expand our electronic components portfolio, which will in turn enable our customers to seize every opportunity offered by the exponential growth of an increasingly evolving market.”