FORTUNE magazine has announced that global technology distributor Avnet, Inc. ranked No. 108 on the 2012 FORTUNE 500 list of largest U.S. companies. With $26.5 billion in sales in fiscal 2011, Avnet moved up 24 positions in the ranking from No. 132 on the 2011 list. In addition, Avnet was recently named No. 1 by FORTUNE on its “FORTUNE’S Most Admired” list in the Wholesaler: Electronics category for the fourth year in a row.
“We are proud that our long-term, disciplined approach to profitable growth, both organically and through value-creating acquisitions, is reflected in our 2012 ranking,” said Rick Hamada, CEO of Avnet, Inc. “Avnet’s continued rise on the FORTUNE 500 list is a direct result of our team’s commitment to accelerating the success of our valued customer and supplier partners around the globe.”
Companies are ranked by total revenues for their respective fiscal years. Avnet debuted on the FORTUNE 500 in 1968, placing 467th with revenue just over $146 million. For more information about the list, please visit http://fortune.com/500.