Avnet 2012 Annual Report Download - page 8

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Table of Contents
Avnet Website
In addition to the information about Avnet contained in this Report, extensive information about the Company can be found at
www.avnet.com , including information about its management team, products and services and corporate governance practices.
The corporate governance information on the website includes the Company’
s Corporate Governance Guidelines, the Code of Conduct and
the charters for each of the committees of Avnet’
s Board of Directors. In addition, amendments to the Code of Conduct, committee charters and
waivers granted to directors and executive officers under the Code of Conduct, if any, will be posted in this area of the website. These documents
can be accessed at www.avnet.com under the “Investor Relations — Corporate Governance”
caption. Printed versions of the Corporate
Governance Guidelines, Code of Conduct and charters of the Board committees can be obtained, free of charge, by writing to the Company at
the address listed above in “Available Information.”
In addition, the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-
K and
amendments to those reports, if any, filed or furnished pursuant to Section 13(a) or 15(d) of Securities Exchange Act of 1934, as well as
Section 16 filings made by any of the Company’
s executive officers or directors with respect to Avnet common stock, are available on the
Company’s website ( www.avnet.com under the “Investor Relations — SEC Filings”
caption) as soon as reasonably practicable after the report
is electronically filed with, or furnished to, the Securities and Exchange Commission.
These details about Avnet’s website and its content are only for information. The contents of the Company’
s website are not, nor shall they
be deemed to be, incorporated by reference in this Report.
Item 1A. Risk Factors
Forward-Looking Statements And Risk Factors
This Report contains forward-
looking statements with respect to the financial condition, results of operations and business of Avnet. These
statements are generally identified by words like “believes,” “expects,” “anticipates,” “should,” “will,” “may,” “estimates”
or similar
expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties.
Except as required by law, Avnet does not undertake any obligation to update any forward-
looking statements, whether as a result of new
information, future events or otherwise. Factors that may cause actual results to differ materially from those contained in the forward-
looking
statements include the following:
Economic weakness and uncertainty could adversely affect our results and prospects.
The Company's results, operations and prospects depend significantly on worldwide economic conditions, the demand for its products and
services, and the financial condition of its customers and suppliers. Economic weakness and uncertainty, including the ongoing macroeconomic
issues in many countries globally and the debt crisis in Europe and the United States, have in the past resulted, and may result in the future, in
decreased revenues, margins and earnings. Economic weakness and uncertainty also make it more difficult for the Company to manage
inventory levels and collect customer receivables, which may result in reduced access to liquidity and higher financing costs.
The electronics component and computer industries are highly competitive and if the Company fails to compete effectively, its revenues,
gross profit margins and prospects may decline.
The market for the Company's products and services is very competitive and subject to rapid technological advances, changes in industry
standards and changes in customer needs. Not only does the Company compete with other global distributors, it also competes for customers
with regional distributors and some of the Company's own suppliers. The Company's failure to maintain and enhance its competitive position
could adversely affect its business and prospects. Furthermore, the Company's efforts to compete in the marketplace could cause deterioration of
gross profit margins and, thus, overall profitability.
The size of the Company's competitors vary across market sectors, as do the resources the Company has allocated to the sectors and
geographic areas in which it does business. Therefore, some of the competitors may have greater financial, personnel, capacity and other
resources or a more extensive customer base than the Company has in one or more of its market sectors and geographic areas, which may result
in the Company not being able to effectively compete in certain markets which could impact the Company's profitability and prospects.
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