Electronic components distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, Colorado, reported third-quarter sales of $7.2 billion, up 2% compared with the third quarter of 2019. Net income of $166.1 million was up 80.2% from the year-ago quarter.
Global sales of electronic components and solutions increased 5% to $5.3 billion for the quarter from the year-ago period.
For the first nine months, Arrow reported sales of $20.2 billion, down 6.3% from the same period in 2019. The company reported a profit of $348.4 million, compared to a loss of $316.1 million last year.