PHOENIX (AP) _ Avnet Inc. (AVT) on Wednesday reported fiscal second-quarter earnings of $150.8 million.

On a per-share basis, the Phoenix-based company said it had profit of $1.50. Earnings, adjusted for one-time gains and costs, were $1.51 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The distributor of electronic components posted revenue of $5.87 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $5.52 billion.

For the current quarter ending in April, Avnet expects its per-share earnings to range from $1.45 to $1.55.

The company said it expects revenue in the range of $5.4 billion to $5.8 billion for the fiscal third quarter.

Avnet shares have fallen roughly 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $39.22, an increase of 1% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVT at https://www.zacks.com/ap/AVT

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