Arrow Electronics: 4Q Earnings Snapshot
CENTENNIAL, Colo. (AP) _ Arrow Electronics Inc. (ARW) on Thursday reported fourth-quarter net income of $230.7 million.
On a per-share basis, the Centennial, Colorado-based company said it had net income of $2.63. Earnings, adjusted for one-time gains and costs, came to $2.57 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.
The electronics maker posted revenue of $7.92 billion in the period, which met Street forecasts.
For the year, the company reported profit of $716.2 million, or $8.10 per share. Revenue was reported as $29.68 billion.
For the current quarter ending in April, Arrow Electronics expects its per-share earnings to range from $1.84 to $1.96.
The company said it expects revenue in the range of $6.78 billion to $7.18 billion for the fiscal first quarter.
Arrow Electronics shares have increased 12 percent since the beginning of the year. The stock has declined nearly 2 percent in the last 12 months.