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PHOENIX -- FORTUNE announced Thursday that Avnet, Inc. (NYSE:AVT) has been ranked No. 142 on the 2010 FORTUNE 500 list.
With $16.23 billion in sales in fiscal 2009, Avnet increased its ranking by two positions to No. 142 on the FORTUNE list. In addition, Avnet was recently named No. 1 by FORTUNE on its "Most Admired Companies" list in the Wholesaler: Electronics category. Avnet was ranked first in eight out of nine reputation attributes, including innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment and quality of service.
FORTUNE editor-at-large Shawn Tully writes, "U.S. corporations are staging a nearly unprecedented comeback that's largely escaping notice ... For 2009, the FORTUNE 500 lifted earnings 335%, to $391 billion, a $301 billion jump that's the second largest in the list's 56-year history, approaching the increase in the robust recovery of 2003. For last year the 500 raised their return on sales from less than 1% to 4%. That's close to the list's 4.7% historical average."
"The global macro-economy is improving and it appears that technology is leading the overall economic recovery more so than it has since the late 1990s," said Roy Vallee, Avnet chairman and CEO. "Avnet's employees continue to keep our company healthy by creating profitable growth that accelerates Avnet's success. Our improved position on the FORTUNE 500 list for 2010 is a reflection of our collective ability to create competitive advantages for Avnet and its partners in the technology supply chain."
The annual FORTUNE 500 list ranks all U.S. companies by revenue. Avnet debuted on the FORTUNE 500 in 1968, placing 467th with revenue just over $146 million. For more information visit http://www.fortune.com.
About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers and by providing cost-effective, value-added services and solutions. For the fiscal year ended June 27, 2009, Avnet generated revenue of $16.23 billion. For more information, visit www.avnet.com.
Contacts
Avnet, Inc., Phoenix
Michelle Gorel, 480-643-7653
michelle.gorel@avnet.com
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