Manufacturing Industry
Tough squeeze - The Antenna - Avnet, All American Semiconductor report earnings - Brief Article
Electronic News, August 12, 2002
TWO DISTRIBUTORS WEIGHED IN WITH QUARTERLY EARNINGS reports last week, revealing the prolonged struggle to make good on a flat market. Avnet was essentially breakeven, with $700,000 in earnings before one-time charges took the company $61.4 million into the red for its fiscal quarter ended June 28. Much smaller All American Semiconductor fared better in the earnings department, showing $1.1 million in profits before noncash charges whittled the return down to $198,000.
Any improvement in the next two quarters is expected to come from seasonal increases rather than market improvements. Both companies look to 2003 for any real market gains, and even that is expected to be gradual.
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