Avnet 2005 Annual Report Download - page 16

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customers. However, to minimize its exposure related to valuation of inventory on hand, the majority of the
Company's products are purchased pursuant to non-exclusive distributor agreements, which typically provide
certain protections to the Company for product obsolescence and price erosion in the form of rights of return
and price protection. Furthermore, these agreements are generally cancelable upon 30 to 180 days notice and,
in most cases, provide for inventory return privileges upon cancellation. In addition, the Company enhances its
competitive position by offering a variety of value-added services which entail the performance of services
and/or processes tailored to individual customer specifications and business needs such as point of use
replenishment, testing, assembly, supply chain management and materials management.
A key strength of the Company is the breadth and quality of the suppliers whose products it distributes.
Because of the number of Avnet's suppliers, many customers can make all of their required purchases with
Avnet, rather than purchasing from several different vendors.
Seasonality
With the exception of a relatively minor impact on consolidated results from the growth in revenues in
the computer-related business (TS) during Avnet's fiscal quarter ending in December, Avnet's business is not
materially impacted by seasonality.
Number of Employees
At July 2, 2005, Avnet had approximately 9,800 employees.
Avnet Website
In addition to the information about Avnet and its subsidiaries contained in this Report, extensive
information about the Company can be found through our website located at www.avnet.com, including
information about our management team, products and services and our corporate governance practices.
The corporate governance information on our website includes the Company's Corporate Governance
Guidelines, the Code of Conduct and the charters for each of the committees of our Board of Directors. In
addition, amendments to the Code of Conduct and waivers granted to our directors and executive officers
under the Code of Conduct, if any, will be posted in this area of our website. These documents can be accessed
at www.avnet.com under the ""Investor Relations Ì Governance'' caption. Printed versions of our Corporate
Governance Guidelines, our Code of Conduct and the charters of our Board committees can be obtained, free
of charge, by writing to the Company at: Avnet, Inc., 2211 South 47th Street, Phoenix, AZ 85034; Attn:
Corporate Secretary.
In addition, the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and amendments to those Reports, if any, filed or furnished pursuant to Section 13(a)
or 15(d) of The Securities Exchange Act of 1934, as well as Section 16 filings made by any of the Company's
executive officers or directors with respect to Avnet Common Stock, are available on the Company's website
(www.avnet.com under the ""Investor Relations Ì SEC Filings'' caption) as soon as reasonably practicable
after the report is electronically filed with, or furnished to, the Securities and Exchange Commission.
These details about Avnet's website and its content are for information. The contents of the Company's
website are not, nor shall be deemed to be incorporated by reference in this Report.
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