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SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT PURSUANT
Date of Report (Date of earliest event reported): October 16, 2002
AVNET, INC.
New York
| 1-4224 | 11-1890605 | |
| (Commission File Number) | (I.R.S. Employer Identification No.) |
| 2211 South 47th Street, Phoenix, Arizona | 85034 | |||
| (Address of principal executive offices) | (Zip Code) |
(480) 643-2000
Not Applicable
| Item 7. Financial Statements and Exhibits. | ||||||||
| Item 9. Regulation F-D Disclosure. | ||||||||
| SIGNATURE | ||||||||
| EXHIBIT INDEX | ||||||||
| EX-99.1 | ||||||||
| EX-99.2 | ||||||||
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Item 7. Financial Statements and Exhibits.
| (a) | Inapplicable | |||
| (b) | Inapplicable | |||
| (c) | Exhibits: | |||
| 99.1 Press Release of Avnet, Inc. dated October 16, 2002 | ||||
| 99.2 Press Release of Avnet, Inc. dated October 17, 2002 |
Item 9. Regulation F-D Disclosure.
The press releases of Avnet, Inc. issued on October 16, 2002 and October 17, 2002 are being filed as Exhibit 99.1 and Exhibit 99.2 hereto.
Management of Avnet, Inc. may, from time to time, comment on expectations concerning Avnet’s future financial performance during discussions with investors, the media, investment analysts and others. To the extent management’s expectations differ during those discussions from the comments made by management in Avnet’s quarterly earnings conference calls, such new expectations will be posted on the Investor Relations home page of Avnet’s web site.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| AVNET, INC. | ||
| (Registrant) | ||
| Date: October 17, 2002 | By: /s/ Raymond Sadowski | |
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| Raymond Sadowski | ||
| Senior Vice President and | ||
| Chief Financial Officer |
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EXHIBIT INDEX
| Exhibit Number | Description of Exhibit | |
| 99.1 | Press Release of Avnet, Inc. dated October 16, 2002 | |
| 99.2 | Press Release of Avnet, Inc. dated October 17, 2002 |
| Exhibit 99.1 | ||
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| Avnet, Inc. | ||
| 2211 South 47th Street | ||
| Phoenix, AZ 85034 | ||
| PRESS RELEASE |
October 16, 2002
Avnet Addresses Debt-Related Inquiries
Avnet, Inc. (NYSE: AVT) announced this morning that it has posted to the Company’s investor relations Web site responses to inquiries relating to the Company’s current debt and liquidity position and its amended multi-year syndicated bank credit facility, which was filed with the Securities and Exchange Commission on Form 8-K on October 10, 2002. Posted at www.ir.avnet.com/liquidity, the Company provides an outline of frequently asked questions (FAQs) received over the past several days, with responses from Avnet’s management.
Commenting on this action, Ray Sadowski, Avnet’s Chief Financial Officer, stated: “We have received a number of questions regarding the amended multi-year credit facility as well as our accounts receivable securitization program and we want to be responsive to these inquiries. The most frequent question we’ve received addresses Avnet’s ability to access its available lines of credit to retire maturing debt balances coming due in calendar year 2003. Although it is not currently our intent to use the available lines of credit to fund the payment of outstanding bond obligations, we are not restricted from doing so.”
Avnet maintains a strong commitment to provide all current and prospective investors access to important information about our Company. Please visit Avnet’s investor relations Web site at www.ir.avnet.com to review the FAQs, Avnet’s 8-K filing, and other investor relations information. You may also contact Avnet’s investor relations team at investorrelations@avnet.com.
Company Information
Phoenix, Arizona-based Avnet, Inc., a Fortune 500 company, is one of the world’s largest distributors of semiconductors, interconnect, passive and electromechanical components, enterprise network and computer equipment, and embedded sub-systems from leading manufacturers. Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Avnet’s investor relations Web site is located at www.ir.avnet.com.
Contact:
John. J. Hovis
Vice President and Director, Investor Relations
480-643-7053
investorrelations@avnet.com
1
| Exhibit 99.2 | ||
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| Avnet, Inc. | ||
| 2211 South 47 Street | ||
| Phoenix, AZ 85034 | ||
| PRESS RELEASE |
October 17, 2001
Avnet, Inc. Schedules First Quarter Fiscal Year 2003
Avnet, Inc. (NYSE:AVT) announced today that its first quarter fiscal year 2003 financial results announcement will be Web cast live via the Internet at www.ir.avnet.com on Thursday, October 24, 2002. Avnet will issue a press release outlining its financial results after market close that day, and will conduct an interactive Web cast at 5:00 p.m. Eastern, 4:00 p.m. Central, 3:00 p.m. Mountain and 2:00 p.m. Pacific time.
Roy Vallee, Avnet’s chairman and chief executive officer and Ray Sadowski, Avnet’s chief financial officer, along with other members of Avnet’s senior management team, will comment on the Company’s results and respond to participant’s questions, which may be submitted via the Internet. In addition, Avnet will conduct its quarterly opinion survey to which all participants are encouraged to respond.
Please log on to the Web cast at least 15 minutes prior to the start of the event to download any necessary software (RealPlayer or Windows Media Player) and to register for the Web cast.
Phoenix, Arizona-based Avnet, Inc., a Fortune 500 company, is one of the world’s largest distributors of semiconductors; interconnect, passive and electromechanical components; enterprise network and computer equipment; and embedded sub-systems from leading manufacturers. Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Avnet’s investor relations Web site is located at www.ir.avnet.com.
| CONTACT: | Avnet, Inc. | |
| John. J. Hovis | ||
| Vice President and Director, Investor Relations | ||
| 480/643-7053 | ||
| investorrelations@avnet.com |