Mad Money

Cramer: Pros overlooking these impressive earnings?

Amid a nasty sell-off like we're having now, sometimes important results get lost in the sauce.

"That's what happened with Avnet," insisted Jim Cramer.

When the company , talk of a blossoming credit crisis in China or lousy economic numbers out of Beijing probably got your attention rather than these earnings.

Cramer thinks that's a shame.

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Not only does the "Mad Money" host like the company but he also thinks that as a kind of supermarket of technology Avnet provides valuable insights into the state of the tech sector, broadly.

And recent earnings posted by Avnet contain a slew of impressive metrics to say the least. Here are some highlights:

  • Sales for the quarter ended December 28, 2013 increased 10.8% year over year to record sales of $7.4 billion; organic sales grew 8.2% year over year and 8.1% in constant currency

  • Adjusted operating income of $263.2 million increased 15.2% and adjusted operating income margin of 3.6% increased 14 basis points year over year. Sequentially, adjusted operating income and adjusted operating income margin were up 31.9% and 41 basis points, respectively

  • Adjusted net income of $163.9 million increased 12.6% and adjusted diluted earnings per share of $1.17 increased 11.4% year over year.

Cramer thinks results such as these are not to be ignored. That is, they speak volumes about the health of technology and by proxy that state of the economy, broadly.

It supports his belief that although the broad sell-off is concerning, investors who run for the exits with abandon will probably regret selling, in the end.

Read more from Mad Money with Jim Cramer
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Sell this beloved Wall Street stock?
The ugly truth about your 401(k)

If you're looking to put money to work, "What's good for Avnet should also good for a whole host of technology companies," Cramer reminded.

And looking at the stock itself, Cramer added that despite the sharp advance, "With numbers like these, I bet the stock has more room to run. I'm a buyer of any pullback."

Call Cramer: 1-800-743-CNBC

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