Avnet quarterly profit falls on higher expenses

Thu Apr 25, 2013 8:14am EDT

(Reuters) - Electronic products distributor Avnet Inc (AVT.N) reported a 42 percent drop in quarterly profit, hurt by higher expenses.

Net income fell to $86.2 million, or 62 cents per share, in the third quarter from $147.6 million, or $1.00 per share, a year earlier.

Revenue rose 0.3 percent to $6.29 million.

(Reporting By Lehar Maan in Bangalore; Editing by Sreejiraj Eluvangal)