Arrow Electronics, Inc. (NYSE: ARW), Englewood, CO, reported first-quarter 2012 profit of $113.6 million on sales of $4.89 billion, compared with profit of $136.3 million on sales of $5.22 billion in the first quarter of 2011.
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Global enterprise computing solutions first-quarter sales of $1.54 billion increased 15 percent year over year. \”We had very impressive results in the first quarter with sales well above normal seasonality, especially in our North American value-added distribution business,\” said Michael J. Long, president and CEO. \”Globally, we saw robust product line performance in storage, software, and services, which each grew in excess of 20 percent year over year.\”
Global components first-quarter sales of $3.35 billion decreased 14 percent year over year. \”The Americas region performed well while weaker macroeconomic conditions in Asia and Europe have had a negative impact on our results,\” Long said.