Avnet 2005 Annual Report Download - page 10

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FORWARD-LOOKING STATEMENTS
This Report contains forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the
financial condition, results of operations and business of Avnet, Inc. and subsidiaries (""Avnet'' or the
""Company''). You can find many of these statements by looking for words like ""believes,'' ""expects,''
""anticipates,'' ""should,'' ""will,'' ""may,'' ""estimates'' or similar expressions in this Report or in documents
incorporated by reference in this Report.
These forward-looking statements are subject to numerous assumptions, risks and uncertainties. Factors
that may cause actual results to differ materially from those contemplated by the forward-looking statements
include, but are not limited to, the following:
‚ A technology industry down-cycle, particularly in the semiconductor sector, would adversely affect
Avnet's expected operating results.
‚ Competitive pressures among distributors of electronic components and computer products may
increase significantly through entry of new competitors or otherwise.
‚ General economic or business conditions, domestic and foreign, may be less favorable than manage-
ment expected, resulting in lower sales and profitability which can, in turn, impact the Company's
credit ratings, debt covenant compliance and liquidity, as well as the Company's ability to maintain
existing unsecured financing or to obtain new financing.
‚ Avnet may be adversely affected by the allocation of products by suppliers.
‚ Avnet's ability to successfully integrate the Memec acquisition may impact Avnet's ability to achieve
the desired synergy savings and expected profitability in the combined business.
‚ Legislative or regulatory changes may adversely affect the businesses in which Avnet is engaged.
‚ Adverse changes may occur in the securities markets.
‚ Changes in interest rates and currency fluctuations may impact Avnet's profit margins.
Although management believes that the plans and expectations reflected in or suggested by these
forward-looking statements are reasonable, management cannot assure you that we will achieve or realize
these plans and expectations. Because forward-looking statements are subject to risks and uncertainties, actual
results may differ materially from those expressed or implied by them. Management cautions you not to place
undue reliance on these statements, which speak only as of the date of this Report.
Avnet does not undertake any obligation to update any forward-looking statements, whether as a result of
new information, future events or otherwise.
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