Arrow Electronics, Inc. (NYSE: ARW), Englewood, CO, reported second-quarter sales of $5.3 billion, up 3 percent over the same period a year ago. Profit declined 27 percent to $89.9 million.
Sales for the first half of the year were $10.2 billion, up 1 percent year over year. Profit fell 26 percent to $228 million.
Global components second-quarter sales of $3.4 billion decreased 2 percent year over year. In the Americas, sales declined 4 percent due to ongoing market weakness amid economic uncertainty. European sales were down 9 percent primarily due to the prospective change in the accounting for revenue related to a fulfillment contract. Sales in the Asia-Pacific region increased 10 percent year over year, driven by strong growth in China and the ASEAN region.
Global Enterprise Computing Solutions second-quarter sales of $1.91 billion increased 12 percent year over year. In the Americas, sales growth was 10 percent year over year. In Europe, sales growth, including the Altimate acquisition, was 18 percent with broad-based strength across the region.
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
