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Table of Contents
Fiscal 2012 Comparison to Fiscal 2011
The table below provides the comparison of reported fiscal 2012 and 2011 sales for the Company and its operating groups to pro forma (or
organic) sales (as defined previously) to allow readers to better assess and understand the Company’s revenue performance by operating group.
Consolidated sales for fiscal 2012 were $25.71 billion, a decrease of 3.1%, or $826.9 million, from the prior year consolidated sales of
$26.53 billion. Organic sales (as defined earlier in this MD&A) decreased 4.4%, which was primarily due to a double-
digit decline in the EMEA
region in both operating groups.
EM sales of $14.93 billion for fiscal 2012 decreased 0.9% from the prior year sales of $15.07 billion. EM organic revenue in constant
currency decreased 6.0% year over year due to the combination of exceptionally high growth in fiscal 2011 driven by the V-
shaped recovery in
electronic components, which led to negative organic growth in EM for fiscal 2012. On a regional basis, EMEA experienced double-digit, year-
over-
year revenue declines for both organic and reported revenue, as a result of weaker demand amid concerns surrounding economic conditions
in Europe. Asia organic revenue declined 7.5%, primarily due to slowing growth in China, and the Americas was flat as compared with fiscal
2011.
TS sales of $10.77 billion for fiscal 2012 decreased 6.1% from the prior year sales of $11.47 billion. The year-over-
year revenue decrease
was due primarily to the Americas and EMEA regions, which were down 9.1% and 10.4%, respectively, partially offset by growth of 17.6% in
Asia. Organic revenue decreased 1.7% year over year primarily due to EMEA, which decreased 12.7% and 11.4% in constant currency. The
double-
digit decline in EMEA was due to weaker demand in Europe due primarily to the macroeconomic environment previously mentioned.
The organic decline in EMEA was mostly offset by an increase of 11.5% in Asia and 1.7% in the Americas. On a product level, software and
services experienced strong double-digit growth year over year and storage, processors and other hardware also grew year over year.
Fiscal 2011 Comparison to Fiscal 2010
The table below provides the comparison of reported fiscal 2011 and 2010 sales for the Company and its operating groups to pro forma (or
organic) sales (as defined previously) to allow readers to better assess and understand the Company’s revenue performance by operating group.
21
Sales as
Reported
Acquisition/Divested
Revenue
Pro Forma
Sales
2012 to 2011
Pro Forma
Change
(Dollars in millions)
EM
$
14,933.1
$
211.2
$
15,144.3
(6.3
)%
TS
10,774.4
137.8
10,912.2
(1.7
)
Fiscal 2012
$
25,707.5
$
349.0
$
26,056.5
(4.4
)
EM
$
15,066.2
$
1,092.3
$
16,158.5
TS
11,468.2
(365.4
)
11,102.8
Fiscal 2011
$
26,534.4
$
726.9
$
27,261.3
Sales as
Reported
Acquisition
Sales
Extra Week
in Q1 FY10
Pro Forma
Sales
2011 to 2010
Pro Forma
Change
(Dollars in millions)
EM
$
15,066.2
$
44.9
$
—
$
15,111.1
21.9
%
TS
11,468.2
(188.5
)
—
11,279.7
11.3
Fiscal 2011
$
26,534.4
$
(143.6
)
$
—
$
26,390.8
17.1
EM
$
10,966.8
$
1,605.5
$
(174.3
)
$
12,398.0
TS
8,193.4
2,188.0
(243.5
)
10,137.9
Fiscal 2010
$
19,160.2
$
3,793.5
$
(417.8
)
$
22,535.9