Electronic components distributor Arrow Electronics Inc. (NYSE: ARW) of Centennial, Colorado, reported fourth-quarter 2021 sales of $9.02 billion, an increase of 7% over the $8.45 billion reported for the same period in 2020.

Arrow’s 4Q net income was $371 million, or $5.26 per share on a diluted basis, compared with net income of $236 million, or $3.08 per share on a diluted basis, in the fourth quarter of 2020.

“Our fourth quarter and full year results demonstrate how we are leveraging Arrow’s extensive experience, deep industry knowledge, and expertise in design, engineering, and supply chain to help customers manage through the current market challenges. Arrow is uniquely positioned in the market and customers new and old are increasingly turning to our team, enabling us to build on our relationships and do even more business,” said Michael J. Long, Arrow’s chairman, president and CEO. “Our organization has worked hard to capture these tremendous opportunities and deliver full-year earnings per share that were more than 75 percent higher than our previous record year.”

Arrow’s full-year 2021 sales of $34.48 billion increased 20% versus sales of $28.67 billion in 2020. Net income for 2021 was $1.11 billion, or $15.10 per share on a diluted basis; in 2020, net income was $584 million, or $7.43 per share on a diluted basis.