The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Nikolay Todorov - Longbow Research LLC - Analyst
: Yes. Congrats on achieving the margin goals ahead of time line. So a question on that, Phil, given that you've reached that milestone now, and it
seems like you're seeing the benefits of the current backdrop and the whole environment, how should investors think about the next near-term
goal for the margins? I think you've mentioned that you anticipate that you're going to sustain those. But what are the levers that you can pull, so
you can continue to see improvement in those margins?
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OCTOBER 28, 2021 / 8:30PM, AVT.N - Q1 2022 Avnet Inc Earnings Call
Question: Nikolay Todorov - Longbow Research LLC - Analyst
: Okay. Great. And a question on capital. You obviously raised the dividend again. How should investors think about the balance of increasing the
dividend throughout the cycle and the returns through buybacks? Given just where the stock is, I think it's clearly obvious that it's pretty attractive
to buy back the stock here. But how do you balance that with the dividend increases that you're planning to do through the cycle?
Question: Nikolay Todorov - Longbow Research LLC - Analyst
: Okay. And last one for me, Phil, just on Maxim. Can you dive a little bit on the strategy to replace the growth dollars from that? And can you give
us some time line? I'm guessing you're sold out on Maxim for the next few quarters. Help us understand the timing of transition and the commitment
there.
Question: Nikolay Todorov - Longbow Research LLC - Analyst
: Yes. Just one follow-up. Do you guys see a change in the volume or breadth of expedite requests by customers? There were some suppliers that
talked about it. So -- and if you do, what do you think is driving that?
Question: Nikolay Todorov - Longbow Research LLC - Analyst
: Got it. And last question, just on Asia. Very strong performance in the quarter. What are you seeing in terms of order trends there? Some people
are seeing a softening or moderation, call it, specifically coming out of China. What do you see from your perspective in Asia, particularly in China?
And do you see any -- do you hear about any impact from the power shortages there, too?
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