India, Jan. 29 -- Technology solutions provider Avnet, Inc. (AVT) reported Wednesday that net income for the second quarter declined to $87.25 million or $0.99 per share from $117.93 million or $1.28 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.87 per share, compared to $1.40 per share in the year-ago quarter.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter declined 8.7 percent to $5.66 billion from $6.20 billion in the same quarter last year. It was down 8.6 percent in constant currency. Analysts expected revenues of $5.56 billion for t...