Electronics distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, CO, reported first quarter sales of $5.5 billion, an increase of 9.4 percent from the previous year. Profit increased 0.2 percent to $106.2 million.
For the first quarter, global components sales increased 10 percent year-over-year to $3.7 billion, with sales in the Americas up 3 percent, sales in Europe up 15 percent and sales in Asia-Pacific up 15 percent.
For the first quarter, global enterprise computing solutions sales increased 9 percent year-over-year to $1.8 billion, with sales in the Americas up 11 percent and sales in Europe up 4 percent.
The company also announced that Chris Stansbury has been named senior vice president and CFO, effective immediately. He will succeed Paul Reilly, who is retiring from Arrow in January 2017. Stansbury will report to Michael J. Long, president and CEO.
