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Melville, NY-based Arrow Electronics, Inc. (NYSE: ARW), No. 2 on the list of top electronics distributors, reported sales for the second quarter were $5.54 billion, an increase of 20 percent versus the second quarter a year ago. Profit increased 34 percent to $156.2 million.
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For the first six months, sales were $10.76 billion, up 22 percent compared to the year-ago period. Profit increased 44 percent to $292.5 million.
Global components sales of $3.88 billion increased 19 percent year over year. "Sales growth was strong again, driven by excellent year-over-year increases across a wide number of product sets and vertical markets in our core components businesses around the globe. On a sequential basis, sales were in line with normal seasonality, though slightly below our expectations for another quarter of above seasonal growth," said Michael J. Long, president and CEO.
Global enterprise computing solutions sales of $1.66 billion increased 23 percent year over year. "The ECS team posted record second-quarter revenue driven by impressive year-over-year growth in all of our product lines, with proprietary servers, industry-standard servers, and software all growing in excess of 25 percent," said Mr. Long.