AVT FY 2016 Earnings Report — Avnet, Inc. Revenue & Financial Results | Market Cap Arena

FY 2016 Earnings

Reported August 12, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$16.7B	—	$17.7B	—	-5.2%
Op. Income	$573M	—	$653M	—	-12.3%
Gross Margin	12.4%	—	12.5%	—	-0.1pp
Net Margin	3.0%	—	3.2%	—	-0.2pp
EPS (Diluted)	$3.80	—	$4.12	—	-7.8%
Free Cash Flow	$77M	—	$410M	—	-81.3%

Revenue Flow

Item	Amount
REVENUE	$16.7B
Cost of Revenue	$14.7B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$45M
Operating Expenses	$1.5B
Cost & Expenses	$16.2B
OPERATING INCOME	$573M
Interest Income	$0
Interest Expense	$92M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$478M
Income Tax Expense	$87M
Net Income from Continuing Ops	$391M
Net Income from Discontinued Ops	$116M
Other Adjustments	$0
NET INCOME	$507M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$507M
D&A	$80M
EBIT	$570M
EBITDA	$650M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$16.7B
Cost of Revenue	$14.7B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$45M
Operating Expenses	$1.5B
Cost & Expenses	$16.2B
OPERATING INCOME	$573M
Interest Income	$0
Interest Expense	$92M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$478M
Income Tax Expense	$87M
Net Income from Continuing Ops	$391M
Net Income from Discontinued Ops	$116M
Other Adjustments	$0
NET INCOME	$507M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$507M
D&A	$80M
EBIT	$570M
EBITDA	$650M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$507M
Depreciation & Amortization	$126M
Stock-Based Compensation	$57M
Deferred Income Tax	$123M
Other Non-Cash Items	$48M
Change in Working Capital	-$637M
OPERATING CASH FLOW	$224M
Capital Expenditure	-$148M
Acquisitions (Net)	-$20M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$15M
NET CASH FROM INVESTING	-$153M
Net Debt Issuance	$491M
Common Stock Repurchased	-$381M
Common Dividends Paid	-$89M
Other Financing Activities	$12M
NET CASH FROM FINANCING	$33M
FREE CASH FLOW	$77M
Net Change in Cash	$99M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$0
Net Receivables	$2.8B
Inventory	$2.9B
Other Current Assets	$2.6B
TOTAL CURRENT ASSETS	$9.0B
PP&E (Net)	$613M
Goodwill	$1.3B
Intangible Assets	$78M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$264M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$11.2B
Account Payables	$1.6B
Short-Term Debt	$1.2B
Deferred Revenue	$43M
Other Current Liabilities	$2.0B
TOTAL CURRENT LIABILITIES	$4.9B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$267M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$6.5B
Common Stock	$127M
Additional Paid-In Capital	$1.5B
Retained Earnings	$3.6B
Treasury Stock	-$265.0K
Accum. Other Comp. Income	-$521M
Other Equity	$265.0K
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$0
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$11.2B
Total Debt	$2.5B
Net Debt	$1.5B