The 2020 Mid-Year Economic Update_long

Arrow Electronics Sales Down 1% in First Quarter

Profit for the electronics components distributor fell 31 percent.

Arrow Electronics, Inc. (NYSE: ARW), Englewood, CO, reported sales for the first quarter of $4.85 billion, down 1 percent from first quarter 2012. Profit fell 31 percent to $77.9 million.

Global components first-quarter sales of $3.19 billion decreased 5 percent year over year. In the Americas, sales declined 5 percent as market conditions weakened and customers maintained a cautious stance. European sales were down 16 percent year over year, due to a prospective change in the accounting for revenue related to a certain fulfillment contract, and to a lesser extent, a worsening of the economic conditions in the region over the past nine months. Sales in the Asia-Pacific region increased 11 percent year over year, driven by strength in the core business.

Global enterprise computing solutions first-quarter sales of $1.66 billion increased 8 percent year over year. In the Americas, sales growth was above normal seasonality in the core value-added distribution business with a stronger-than-expected close to the quarter. In Europe, sales were modestly below normal seasonality, as the European economies further weakened in the first quarter.




About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.