Fourth quarter sales rose 10 percent year over year
Transformation delivered cash flow from operationsof $236 million, the highest in five years

PHOENIX - Media OutReach - 21 AUGUST 2018 - Avnet,Inc. (Nasdaq: AVT) announced results for the fourth quarter and fiscal yearended June 30, 2018.

FourthQuarter Key Financial Highlights

• Salesof $5.06 billion increased 9.8% year over year

o Sales grew 6.7% year over year in constant currency

• GAAPoperating income margin of 2.5%

o Non-GAAP adjusted operating income margin improved year over yearto 3.7%

• GAAPdiluted EPS from continuing operations of $0.49

o Non-GAAP diluted EPS of $0.99 increased 18% year over year

• Deliveredthe strongest adjusted operating income dollars and margin performance in fivequarters
• Networking capital days improved sequentially by 7 days, from 93 to 86, andimproved 14 days from the second quarter
• Cashflow from operations reached $236 million

CEOCommentary

"We closed fiscal 2018 with greatmomentum in revenue growth, earnings and cash flow generation," said BillAmelio, Chief Executive Officer, Avnet. "Avnet's unique ecosystem gives ourcustomers access to an unparalleled suite of capabilities. We can now guide ourenterprise and startup customers alike from idea to product and product tomarket. We do this by reducing complexity and delivering solutions that getproducts to market quickly and cost effectively. Our ecosystem is foundational,and when coupled with our ongoing transformation initiatives, we see a veryexciting road ahead."

CFO Commentary

"Our transformation efforts arecontributing meaningfully toward our goals of growing Avnet's higher marginbusinesses, reducing our expenses and optimizing working capital. This progressculminated in $236 million of cash flow from operations in the fourth quarter,Avnet's best operating cash flow performance in five years," stated TomLiguori, Chief Financial Officer, Avnet. "Our focus on optimizing operatingexpenses resulted in an additional $37 million of savings being implemented atthe end of the fourth quarter to further streamline expenses as we enter fiscalyear 2019."

For the full press release, please visit: https://news.avnet.com/press-release/avnet/avnet-reports-fiscal-fourth-quarter-and-2018-financial-results

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About Avnet

From idea to design and fromprototype to production, Avnet supports customers at each stage of a product'slifecycle. A comprehensive portfolio of design and supply chain services makesAvnet the go-to guide for innovators who set the pace for technological change.For nearly a century, Avnet has helped its customers and suppliers around theworld realize the transformative possibilities of technology. Learn more aboutAvnet at www.avnet.com.