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Technology distributor Avnet Inc reported fourthquarter revenue below market estimates for cares over slowing economic growth led buyers apt be alert with fashionable arrays cheap abercrombie and fitch clothes, and projected a weak premier 15 min.
Avnet Abercrombie & Fitch, which distributes electronicparts and microcomputer hardware of technology bellwethers IBM, Apple and HewlettPackard, said it expects first quarter sales of $6.25$6.85 billion.
Avnet prediction firstquarter adjusted profit of 9098 cents a share.
Analysts were expecting $6.74 billion in bargains and one adjusted profit of $1.03 a share, as the phase.
Fourthquarter web income rose 69 percent to $238.8 million Five Fingers Shoes, or $1.54 a share. Excluding items, Avnet earned $1.22 cents a share, ahead of market unity of $1.15 a share VFF Recommend, along to Thomson Reuters I/B/E/S.
Revenue rose along a third to $6.91 billion, compared with analysts' estimates of $6.95 billion.
Shares of the enterprise closed by $25.51 ashore Tuesday above the New York Stock Exchange.