ARROW POINTED IN A PROFITABLE DIRECTION AS DISTRIBUTOR EXPECTS RECORD FINANCIAL RESULTS
Arrow Electronics Inc. announces that results for its June quarter will be well ahead of analysts’ expectations. With continued strengthening of the components distribution markets fueling Arrow’s sales growth, it is anticipated that the company’s second-quarter sales will reach a record $3 billion, and that earnings are likely to exceed the prior quarter’s record of 65 cents per share by approximately 25 percent. “From our vantage point, the recovery continues in full swing. All of our core components distribution businesses around the world are performing very well, and we’re seeing the impact of lengthened lead times and higher average selling prices in our operating results,” says Stephen P. Kaufman, chairman and CEO of Arrow. Company President and COO Francis M. Scricco adds, “The investments we’ve been making in recent years, coupled with this rapid sales growth and strengthening gross profit margins, are enabling us to realize significant operating leverage.” Arrow is one of the world’s largest distributors of electronic components and computer products.
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