Arrow Electronics Reports Fourth-Quarter Financial Results
Arrow Electronics Inc. (New York) recently reported that its fourth-quarter profit rose 36 percent. Net income in the fourth quarter rose to $44.0 million, or $0.46 per share, from $32.3 million, or $0.34 per share in the same period a year earlier.
According to Arrow, fourth-quarter sales grew 15 percent to $2.5 billion from $2.2 billion a year earlier. Net income for the year dropped to $124.2 million, or $1.29 per diluted share, from $145.8 million, or $1.50, a year earlier. The results include a second-quarter charge of $24.6 million, or $0.17, for the acquisition and integration of the electronics distribution group of Bell Industries and Richey Electronics.