Arrow Electronics Inc., Melville, NY, reported sales of $4.3 billion for the third quarter 2008, an increase of 7% over the same quarter 2007. Profit was $76.1 million, a decrease of 22.6%.
 
For the first nine months, Arrow reported sales of $12.7 billion, an increase of 9.5% over the first nine months of 2007. Profit declined 12.1% to $258.2 million.
 
The volatility in the world’s economies and the virtual shutdown of the credit markets made the third quarter especially difficult,” said William E. Mitchell, CEO. “There is no doubt that market conditions will continue to be challenging, and in response to the rapidly changing environment, we will make the appropriate and necessary decisions and adjustments to our business model to ensure continuing and profitable success and long-term sustainability.”
 
Third quarter sales for global enterprise computing solutions increased 12% to $1.31 billion in a year over year comparison.
 
Global components sales of $2.99 billion increased 5% year-over-year.
 
Arrow Electronics is a global provider of products and services to industrial and commercial users of electronic components and enterprise computing solutions through a global network of more than 300 locations in 50 countries and territories.