Roy Vallee Quotations

Bill has exhibited strong leadership over teams in North America, Europe and Asia and has contributed to the Avnet Technology Solutions team's success throughout his tenure.

We are seeing now is more spending by corporations on capital equipment which includes electronics equipment.

Technology solutions deliver a record-breaking quarter as we closed our calendar year 2005 with 11 percent revenue growth while growing operating income by 22 percent for the calendar year. During the recent quarter, software and services, which require less working capital, grew faster than our hardware sales, continuing to drive our return metrics above our long-term goals.

Helping customers get the right devices designed in and right products designed in time to meet their market windows is a rising priority.

We use to call on a customer and engineering was in one part of the building, purchasing in another and manufacturing in another. With one visit we could talk to all of them.

Pitting student teams against one another in eight competitions gives students a chance to demonstrate decision-making and creative skills and to enjoy hands-on experience outside of the classroom. Further, the games offer students a way to stand out from their peers by adding to the development of their communication, problem-solving and leadership skills necessary for success in the business world.

High-volume manufacturing has shifted to other regions so there is a greater focus on smaller accounts in North America than in the past. When we talk about expanding, we mean paying more attention to customers who have less than $100,000 a year in purchases from us.

In North America, there is a shift to demand-pull manufacturing, which is driving us to more supply chain engagements with customers as opposed to traditional transaction-based distribution.

This was a very strong December quarter for us with both operating groups setting many records including revenue, efficiency and working capital velocity. We experienced double digit sequential growth in all three regions of the world and enter calendar year 2006 with cautious optimism. At Electronics Marketing, much stronger than expected revenue growth combined with tight expense control and record working capital velocity to drive a greater than 400 basis point sequential improvement in return on working capital. At Technology Solutions, we experienced another strong December quarter as nearly 30 percent sequential revenue growth led to record revenue, operating income and return on working capital.