Avnet 2004 Annual Report Download - page 7

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Corporate Headquarters
2211 S. 47th St.
Phoenix, AZ 85034
(480) 643-2000
(888) 822-8638
www.avnet.com
Independent Auditors
KPMG LLP
Phoenix, Arizona
Transfer Agent and Registrar
Wachovia Bank, N.A.
Shareholder Services Group
1525 W. WT Harris Blvd., 3C3
Charlotte, NC 28288-1153
Annual Meeting of Shareholders
Nov. 11, 2004
2:00 p.m. MST
Avnet Corporate Broadcast Center
2617 S. 46th Street, Suite 300
Phoenix, AZ 85034
A formal notice of the meeting and a proxy
statement will be mailed to each shareholder
of record.
Investor Relations
Vince Keenan
Vice President & Director
(480) 643-7053
(480) 643-7370 (fax)
[email protected]
Avnet Web Site
Comprehensive investment information
regarding Avnet, Inc., including current and
previous Annual Reports, management
presentations, a calendar of events, corporate
governance and other information, is available
at www.ir.avnet.com.
Board of Directors
Roy Vallee – Chairman
Eleanor Baum
J. Veronica Biggins
Lawrence W. Clarkson
Ehud Houminer
James A. Lawrence
Frank R. Noonan
Ray M. Robinson
Gary L. Tooker
Special Note: Avnet welcomes Frank R. Noonan
to the board and thanks former member
Frederic Salerno for 10 years of dedicated
service to our Company.
Senior Management
David Birk
General Counsel & Chief of Staff
Andy Bryant
President, Avnet Logistics
Steve Church
Senior Vice President,
Organizational & Business Development
Harley Feldberg
President, Avnet Electronics Marketing
Rick Hamada
President, Avnet Technology Solutions
Ed Kamins
Chief Information Officer
Al Maag
Chief Communications Officer
Janice Miller
Vice President, Organizational
Development & Human Resources
Ray Sadowski
Chief Financial Officer
Roy Vallee
Chief Executive Officer
Shareholders’ Information
Fiscal 2004, 2003 and 2002 GAAP to Non-GAAP Reconciliation
($ in Thousands)
FY04 FY03 FY02
OPERATING INCOME (LOSS):
As reported $ 202,247 $ 12,729 $ (2,985)
Restructuring and other charges (pre-tax) 55,618 106,765 79,623
Adjusted to exclude restructuring and other charges $ 257,865 $ 119,494 $ 76,638
NET INCOME (LOSS)
As reported $ 72,897 $ (46,116) $ (84,436)
Restructuring and other charges (after-tax) 52,752 73,902 62,084
Adjusted to exclude restructuring and other charges $ 125,649 $ 27,786 $ (22,352)
See Notes 7 and 17 to the accompanying consolidated financial statements appearing in Item 15 of the Form 10-K for discussion of the debt
extinguishment costs and restructuring and other charges noted above. Net income (loss) information is before the cumulative effect of change
in accounting principal in FY02.
Q3 FY04, Q2 FY04, Q1 FY04, Q3 FY03 and Q2 FY03 Earnings (Loss) Per Share
Reconciliation of GAAP to Non-GAAP
Q3 FY04 Q2 FY04 Q1 FY04 Q3 FY03 Q2 FY03
DILUTED EARNINGS (LOSS) PER SHARE:
As reported $ 0.22 $ 0.07 $ (0.09) $ 0.01 $ (0.49)
Impact of restructuring and other charges 0.12 0.14 0.18 0.07 0.55
Adjusted to exclude restructuring and other charges $ 0.34 $ 0.21 $ 0.09 $ 0.08 $ 0.06
See Notes 7 and 17 to the accompanying consolidated financial statements appearing in Item 15 of the Form 10-K for discussion of the
debt extinguishment costs and restructuring and other charges noted above.
© 2004 Avnet, Inc. All rights reserved. Avnet and the AV logo are trademarks of Avnet, Inc.
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