Arrow Electronics reports Q3 results

Arrow Electronics, Inc. (NYSE:ARW) has reported third-quarter 2017 sales of USD 6.95 billion, an increase of 17 percent from sales of USD 5.94 billion in the third quarter of 2016, the company said.

Third-quarter net income of USD 135 million, or USD 1.50 per share on a diluted basis, compared with net income of USD 118 million, or USD 1.28 per share on a diluted basis, in the third quarter of 2016. Excluding certain items1, net income would have been USD 163 million, or USD 1.82 per share on a diluted basis, in the third quarter of 2017, compared with net income of USD 143 million, or USD 1.56 per share on a diluted basis, in the third quarter of 2016.

Global components third-quarter sales of USD 4.86 billion grew 25 percent year over year. Americas components sales grew 24 percent year over year. Asia-Pacific components sales grew 24 percent year over year. Europe components sales grew 25 percent year over year. Sales in the region, as adjusted, grew 19 percent year over year. Global components third-quarter operating income grew 21 percent year over year and grew 20 percent year over year excluding amortization of intangibles expense.

Global enterprise computing solutions third-quarter sales of USD 2.09 billion grew 3 percent year over year. Europe enterprise computing solutions sales grew 16 percent year over year. Sales in the region, as adjusted, grew 11 percent year over year. Americas enterprise computing solutions sales declined 2 percent year over year. Global enterprise computing solutions third-quarter operating income declined 1 percent year over year and declined 2 percent year over year excluding amortization of intangibles expense.

In the first nine months of 2017, sales of USD 19.18 billion increased 10 percent from sales of USD 17.38 billion in the first nine months of 2016. Net income for the first nine months of 2017 was USD 348 million, or USD 3.87 per share on a diluted basis, compared with net income of USD 358 million, or USD 3.87 per share on a diluted basis in the first nine months of 2016. Excluding certain items1, net income would have been USD 455 million, or USD 5.06 per share on a diluted basis, in the first nine months of 2017 compared with net income of USD 428 million, or USD 4.63 per share on a diluted basis, in the first nine months of 2016.

Arrow Electronics (www.arrow.com) 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.