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Table of Contents
PART I
Avnet, Inc., incorporated in New York in 1955, together with its consolidated subsidiaries (the “Company” or
“Avnet”), is one of the world’s largest industrial distributors, based on sales, of electronic components, enterprise
computer and storage products and embedded subsystems. Avnet creates a vital link in the technology supply chain
that connects more than 300 of the world’s leading electronic component and computer product manufacturers and
software developers with a global customer base of more than 100,000 original equipment manufacturers (“OEMs”),
electronic manufacturing services (“EMS”) providers, original design manufacturers (“ODMs”), and value-added
resellers (“VARs”). Avnet distributes electronic components, computer products and software as received from its
suppliers or with assembly or other value added by Avnet. Additionally, Avnet provides engineering design,
materials management and logistics services, system integration and configuration, and supply chain services.
Organizational Structure
Avnet has two primary operating groups — Electronics Marketing (“EM”) and Technology Solutions (“TS”).
Both operating groups have operations in each of the three major economic regions of the world: the Americas;
Europe, the Middle East and Africa (“EMEA”); and Asia/Pacific, consisting of Asia, Australia and New Zealand
(“Asia” or “Asia/Pac”). Each operating group has its own management team led by a group president and includes
regional presidents and senior executives within the operating group who manage the various functions within the
businesses. Each operating group also has distinct financial reporting that is evaluated at the corporate level on which
operating decisions and strategic planning for the Company as a whole are made. Divisions exist within each
operating group that serve primarily as sales and marketing units to further streamline the sales and marketing efforts
within each operating group and enhance each operating group’s ability to work with its customers and suppliers,
generally along more specific product lines or geographies. However, each division relies heavily on the support
services provided by each operating group as well as centralized support at the corporate level.
Avnet’s operating groups and their sales are as follows:
A description of each operating group and its businesses is presented below. Further financial information by
operating group and geography is provided in Note 16 to the consolidated financial statements appearing in Item 15
of this Report.
Electronics Marketing
EM markets and sells semiconductors and interconnect, passive and electromechanical devices (“IP&E”) for
more than 300 of the world’s leading electronic component manufacturers. EM markets and sells its products and
services to a diverse customer base serving many end-markets including automotive, communications, computer
hardware and peripheral, industrial and manufacturing, medical equipment, military and aerospace. EM also offers
3
Item 1.
Business
Fiscal 2009
Percentage
Region
Sales
of Sales
(Millions)
EM Americas
$
3,288.3
20.3
%
EM EMEA
3,026.5
18.6
EM Asia
2,878.0
17.7
Total EM
9,192.8
56.6
TS Americas
4,283.9
26.4
TS EMEA
2,241.9
13.8
TS Asia
511.3
3.2
Total TS
7,037.1
43.4
Total Avnet
$
16,229.9
100.0
%