The highly anticipated launch of GALAXY S III and upbeat sales of GALAXY Note, along with a more competitive average selling price (ASP) than the previous quarter, have cushioned an on-quarter operating loss brought on by the seasonably weak earnings of businesses in IT Solutions and Telecommunication Systems.

ENGADGET: Samsung's Q2 2012 earnings show $5.86 billion operating profit, that's a lot of Galaxy S IIIs

The GOP is probably two-thirds responsible for the credit crisis to begin with (chain-sawing rulebooks will do that) and its current leadership has been equally pathetic in terms of bringing solutions to the table for joblessness and weak business activity.

FORBES: GOP Offers Heckling As Economic Solution

Avnet said the weak profit forecast reflects the lower revenue in the technology solutions group, lower profits margins in the Western regions in electronics marketing due to a weaker sales environment, and a greater-than-expected mix shift in electronics market, with better sales in the lower-margin Asia region more offset by weaker sales in higher-margin Western regions.

FORBES: Avnet Warns On Sept. Qtr; Shares Down; Arrow Also Falls