Distributors of electronic components continue to report strong results for the end of 2014, with Phoenix-based Avnet and Houston-based Smith & Associates reporting sales gains earlier this month.
Avnet Electronics Marketing, the electronic components division of Avnet Inc., reported a 7% revenue gain in its fiscal second quarter ended December 27, with sales of $4.4 billion. Double-digit sales in Asia and high single-digit sales in Europe, the Middle East, and Africa, drove the growth, as sales in the Americas dipped slightly, by 0.3%. The Asia division’s sales rose 17%, making it the first Avnet region to surpass $2 billion in sales.
Avnet’s computer products division, Avnet Technology Solutions, saw sales decline nearly 5% to $3.1 billion during the quarter. The company pointed to growth in sales of networking and security products, services, and storage solutions that was offset by weaker sales of computing components, especially in Asia.
Overall, Avnet Inc.’s fiscal second-quarter sales rose 2% to $7.6 billion.
Reporting its year-end results, Smith & Associates reached a company milestone with $747 million in sales, the highest in the company’s 30-year history. Company leaders pointed to its steady growth and development, especially worldwide. Last year marked the launch of the company’s Global Services division, for example, which analyzes customer needs and provides customized supply chain service programs. The firm also pointed to the expansion of its Houston quality laboratory and operational facilities—now in a new 57,000 square-foot location—as keys to growth.
The positive results followed news earlier in the month that distributor Digi-Key Corp. grew sales by 11% for the year, reaching $1.76 billion.