Organic sales is defined as sales adjusted for the impact of significant acquisitions, divestitures and other items by adjusting Avnet’s prior and current (if necessary) periods to include the sales of acquired businesses and exclude the sales of divested businesses as if the acquisitions and divestitures had occurred at the beginning of the earliest period presented. Organic sales is measured on a sales from continuing operations basis. Organic sales in constant currency is defined as organic sales (as defined above) excluding the impact of changes in foreign currency exchange rates.
The following table presents reported and organic sales growth rates for the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018.
| Second Quarters Ended | ||||||||||||
| Sales | Sales | Organic | ||||||||||
| as Reported | as Reported | Year-Year % | ||||||||||
| and Organic (1) | and Organic (1) | Organic | Change in | |||||||||
| Fiscal | Fiscal | Year-Year | Constant | |||||||||
| 2019 | 2018 | % Change | Currency | |||||||||
| (Dollars in millions) | ||||||||||||
| Avnet | $ | 5,049.0 | $ | 4,521.6 | 11.7 | % | 13.1 | % | ||||
| Avnet by region | ||||||||||||
| Americas | $ | 1,300.4 | $ | 1,210.2 | 7.5 | % | 7.5 | % | ||||
| EMEA | 1,668.6 | 1,506.0 | 10.8 | 14.5 | ||||||||
| Asia | 2,080.0 | 1,805.4 | 15.2 | 15.6 | ||||||||
| Avnet by segment | ||||||||||||
| EC | $ | 4,680.7 | $ | 4,163.5 | 12.4 | % | 13.8 | % | ||||
| PF | 368.3 | 358.1 | 2.8 | 5.2 | ||||||||
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(1) The acquisition of Softweb at the end of December 2018 did not have an impact on sales reported for the second quarter of fiscal 2019. |
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