Arrow Electronics reports Q2 results

Arrow Electronics, Inc. (NYSE:ARW) has reported second quarter 2017 sales of USD 6.47 billion, an increase of eight percent from sales of USD 5.97 billion in the second quarter of 2016, the company said.

Second quarter net income of USD 100 million, or USD 1.11 per share on a diluted basis, compared with net income of USD 134 million, or USD 1.45 per share on a diluted basis, in the second quarter of 2016. Excluding certain items, net income would have been USD 160 million, or USD 1.78 per share on a diluted basis, in the second quarter of 2017, compared with net income of USD 153 million, or USD 1.65 per share on a diluted basis, in the second quarter of 2016.

In the second quarter of 2017, changes in foreign currencies had negative impacts on growth of approximately USD 57 million or one percent on sales and USD .01 or 1 percent on earnings per share on a diluted basis compared to the second quarter of 2016.

Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 125,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 465 locations serving over 90 countries.