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Avnet's (AVT) CEO Rick Hamada on Q1 2016 Results - Earnings Call Transcript


Please stand-by our presentation will now begin.

I'd now like to turn the conference over to Vince Keenan, Avnet's Vice President of Investor Relations.

Vincent Keenan - VP and Director, IR

Good afternoon, and welcome to Avnet's First Quarter of Fiscal Year 2016 Business and Financial Update. As we provide the highlights for our first quarter of fiscal year 2016, please note that in the accompanying remarks we have excluded certain items including intangible asset amortization expense, restructuring, integration, and other items, and certain discrete income tax adjustments from all periods covered in our non-GAAP results.

When we refer to constant currency or the impact of foreign currency, we mean the impact due to the change in foreign currency exchange rates when translating Avnet's non-U.S.-dollar-based financial statements into U.S. dollars. When we refer to organic sales, we have adjusted the current period to...