Avnet Rises in the Fortune 500 Largest Companies List
Tops 2011 Fortune 500 List of Companies Headquartered in Arizona
PHOENIX -- Fortune magazine announced today that global technology distributor Avnet, Inc. (NYSE:AVT) ranked No. 132 on the 2011 Fortune 500 list of largest U.S. companies. With $19.16 billion in sales in fiscal 2010, Avnet moved up ten positions in the ranking from its No. 142 ranking on the 2010 list. In addition, Avnet was recently named No. 1 by Fortune on its “Most Admired Companies” list in the Wholesaler: Electronics category for the third year in a row.
“Avnet’s growth exceeded our expectations in 2010, with technology leading the overall economic recovery,” said Roy Vallee, chairman and CEO, Avnet, Inc. “The impact from our investments in value creating acquisitions and a wide range of organic growth initiatives underscores our continuing commitment to being the premier global technology distributor. Our improved position on the Fortune 500 list for 2011 is a direct result of our global team’s focus on accelerating the success of our trading partners.”
The annual Fortune 500 list ranks all U.S. companies by revenue. Avnet debuted on the Fortune 500 in 1968, placing 467th with revenue just over $146 million. For more information visit about the list, please visit http://www.fortune.com.
Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of customers around the world by providing cost-effective, value-added services and solutions. For the fiscal year ended July 3, 2010, Avnet generated revenue of $19.16 billion. For more information, visit www.avnet.com.
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