Avnet Reports First Quarter Fiscal 2019 Financial Results

Organic Sales

Organic sales is defined as sales adjusted for the impact of significant acquisitions, divestitures and other items by adjusting Avnet’s prior and current (if necessary) periods to include the sales of acquired businesses and exclude the sales of divested businesses as if the acquisitions and divestitures had occurred at the beginning of the earliest period presented. Organic sales is measured on a sales from continuing operations basis. Organic sales in constant currency is defined as organic sales (as defined above) excluding the impact of changes in foreign currency exchange rates.

The following table presents reported and organic sales growth rates for the first quarter of fiscal 2019 compared to the first quarter of fiscal 2018.

             
First Quarters Ended
Sales Sales Organic
as Reported as Reported Year-Year %
and Organic and Organic Organic Change in
Fiscal Fiscal Year-Year Constant
2019 2018 % Change Currency
(Dollars in millions)
Avnet $ 5,089.9 $ 4,660.9 9.2 % 9.9 %
Avnet by region
Americas $ 1,271.8 $ 1,185.5 7.3 % 7.3 %
EMEA 1,714.9 1,693.0 1.3 2.7
Asia 2,103.2 1,782.4 18.0 18.3
Avnet by segment
EC $ 4,710.8 $ 4,307.2 9.4 % 10.0 %
PF 379.1 353.7 7.2 8.2

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