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© adam121 dreamstime.com Components | October 29, 2014

Arrow Electronics' profit surges in Q3

Arrow Electronics recorded third-quarter 2014 net income of USD 146.9 million, compared with net income of USD 96.8 million, for the same period 2013.
Third-quarter sales of USD 5.61 billion increased 11 percent from sales of USD 5.05 billion in the prior year. Sales, as adjusted, increased 6 percent year over year.

“In the third quarter we again produced outstanding results and invested in our long-term strategic sales-related initiatives. Earnings per share of USD 1.40 were above our expectations, with sales of USD 5.6 billion at the high end of our guidance. Both of our global components and enterprise computing solutions segments delivered sales and operating income growth. The stable, slow-growth demand environment for global components matched our expectations. Our focus on the higher value portion of the datacenter has aligned our enterprise computing solutions business with the faster growth areas of IT spending,” said Michael J. Long, chairman, president, and chief executive officer.

Global components third-quarter sales of USD 3.73 billion increased 8 percent year over year. Sales, as adjusted, grew 5 percent year over year. Americas components sales increased 2 percent year over year. Europe components sales grew 4 percent year over year, and the region grew year over year for the sixth consecutive quarter on an as-adjusted basis. Components sales in the Asia-Pacific region increased 18 percent year over year.

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