Sales and Earnings Performance
Sales for the first quarter were $5.9 billion, above guidance, with an adjusted EPS of $0.84, near the high end of guidance. Sales increased 10% in Asia and 3% in the Americas year-over-year.
Farnell Segment Growth
Farnell sales increased by 50% year-over-year and 3% sequentially, with operating margin stable due to increased sales of on-the-board components.
Recovery in Americas and Asia
The Americas region showed signs of recovery with sales growth both sequentially and year-over-year. Asia sales grew sequentially and year-over-year, marking the fifth consecutive quarter of growth.
Improvement in Book-to-Bill Ratio
The book-to-bill ratio improved globally, led by Asia and the Americas, with all regions above parity.