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Electronics Production | June 03, 2009

Arrow with low European sales

US distributing firm Arrow Electronics, Inc. today announced that it now expects revenue to be $3.05 to $3.65 billion for the quarter ending July 4, 2009.
The company now expects earnings per share, on a diluted basis, to be between $0.26 and $0.31 per share. The company noted that the ongoing macroeconomic crisis, principally in the European components business, continues to negatively impact operating performance. The company cautioned that global enterprise computing solutions sales in the last few weeks of June, which typically account for a significant portion of the quarter's revenue, would be a determining factor in the actual revenue and earnings achieved.

“While this update is still within our original guidance, we felt it was best to provide our latest views prior to Investor Day later this week,” said Michael J. Long, Arrow’s chief executive officer.

The company stated previously that it anticipated revenue to be $3.15 to $3.75 billion and earnings per share, on a diluted basis, to be in the range of $.26 to $.38 for the quarter ending July 4, 2009.

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