Avnet 2002 Annual Report Download - page 13

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FORWARD-LOOKING STATEMENTS
This Report contains forward-looking statements with respect to the Ñnancial condition, results of
operations and business of Avnet, Inc. (""Avnet'' or the ""Company''). You can Ñnd many of these statements
by looking for words like ""believes,'' ""expects,'' ""anticipates,'' ""estimates'' or similar expressions in this
Report.
These forward-looking statements are subject to numerous assumptions, risks and uncertainties. Factors
that may cause actual results to diÅer materially from those contemplated by the forward-looking statements
include the following:
‚ Competitive pressures among distributors of electronic components and computer products may
increase signiÑcantly through industry consolidation, entry of new competitors or otherwise.
‚ General economic, industry or business conditions, domestic and foreign, may be less favorable than we
expected, resulting in lower sales and declining operating results which can, in turn, impact our credit
ratings and debt covenant compliance.
‚ Costs or diÇculties related to the integration into Avnet of newly-acquired businesses, or businesses we
expect to acquire, may be greater than we expected.
‚ Avnet may lose customers or suppliers as a result of the integration into Avnet of newly acquired
businesses.
‚ Legislative or regulatory changes may adversely aÅect the business in which Avnet is engaged.
‚ Adverse changes may occur in the securities markets.
‚ Changes in interest rates and currency Öuctuations may reduce Avnet's proÑt margins.
‚ Avnet may be adversely aÅected by the allocation of products by suppliers.
Because forward-looking statements are subject to risks and uncertainties, actual results may diÅer
materially from those expressed or implied by them. We caution you not to place undue reliance on these
statements, which speak only as of the date of this report.
We do not undertake any obligation to update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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