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Last $58.21 USD
Change Today -0.20 / -0.34%
Volume 610.4K
ARW On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 4:15 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

arrow electronics inc (ARW) Key Developments

Arrow Electronics, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 27, 2015; Provides Financial Guidance for the Third Quarter of 2015

Arrow Electronics, Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 27, 2015. The company reported second-quarter 2015 net income of $123.9 million, or $1.28 per share on a diluted basis, compared with net income of $127.9 million, or $1.27 per share on a diluted basis, in the second quarter of 2014. Excluding certain items in the second quarters of 2015 and 2014, net income would have been $148.9 million, or $1.54 per share on a diluted basis, in the second quarter of 2015, compared with net income of $144.3 million, or $1.43 per share on a diluted basis, in the second quarter of 2014. Second-quarter sales of $5.83 billion increased 3% from sales of $5.68 billion in the prior year. Second-quarter sales, adjusted for the impact of acquisitions and changes in foreign currencies, also increased 3% year over year. In the second quarter of 2015, changes in foreign currencies had negative impacts on growth of $350 million on sales and $0.10 or 7% on earnings per share on a diluted basis compared to the second quarter of 2014. Operating income was $206.943 million against $208.269 million a year ago. Income before income taxes was $172.650 million against $180.530 million a year ago. Net cash provided by operating activities was $461.034 million against $159.435 million a year ago. Acquisition of property, plant, and equipment was $37.670 million against $29.160 million a year ago. Consolidated sales, as adjusted was $5,877,711,000 against $5,719,202,000 a year ago. Operating income, as adjusted was $238.007 million against $228.771 million a year ago. The company's net income for the first six months of 2015 was $230.0 million, or $2.37 per share on a diluted basis, compared with net income of $235.0 million, or $2.33 per share on a diluted basis in the first six months of 2014. Excluding certain items in both the first six months of 2015 and 2014, net income would have been $276.7 million, or $2.86 per share on a diluted basis, in the first six months of 2015 compared with net income of $268.3 million, or $2.66 per share on a diluted basis, in the first six months of 2014. In the first six months of 2015, sales of $10.83 billion increased 1% from sales of $10.76 billion in the first six months of 2014. Six-month sales, adjusted for acquisitions and changes in foreign currencies, increased 3% year over year. Operating income was $384.377 million against $386.009 million a year ago. Income before income taxes was $319.608 million against $330.050 million a year ago. Net cash provided by operating activities was $219.438 million against $283.472 million a year ago. Acquisition of property, plant, and equipment was $68.820 million against $62.003 million a year ago. Consolidated sales, as adjusted was $11,172,766,000 against $10,831,935,000 a year ago. Operating income, as adjusted was $442.744 million against $429.072 million a year ago. As the company look to the third quarter, it believes that total sales will be between $5.55 billion and $5.95 billion, with global components sales between $3.65 billion and $3.85 billion, and global enterprise computing solutions sales between $1.9 billion and $2.1 billion. As a result of this outlook, the company expects earnings per share on a diluted basis, excluding any charges, to be in the range of $1.40 to $1.52 per share. The guidance assumes an average tax rate in the range of 27% to 29% and average diluted shares outstanding are expected to be 95.5 million. Included in the guidance for the third quarter 2015 are $435 million of sales and $0.11 of earnings per share on a diluted basis when compared with the third quarter of 2014, and $25 million of sales and no additional contribution to earnings per share on a diluted basis when compared with the second quarter of 2015, related to its closed acquisitions.

Arrow Electronics, Inc. to Report Q2, 2015 Results on Jul 28, 2015

Arrow Electronics, Inc. announced that they will report Q2, 2015 results at 1:00 PM, US Eastern Standard Time on Jul 28, 2015

Arrow Electronics, Inc., Q2 2015 Earnings Call, Jul 28, 2015

Arrow Electronics, Inc., Q2 2015 Earnings Call, Jul 28, 2015

Lenovo and Pivot3 Announce Reselling Agreement with Arrow Electronics for Hyper-Converged Infrastructure Solution

Pivot3 and Lenovo have partnered to bring Pivot3’s Global Hyper-Converged solution to Lenovo clients. Arrow ECS will be the exclusive distributor of this platform in Europe, expanding a long-standing relationship. The combined solution will be sold as the “Hyper-Converged ONE” appliance initially leveraging a high-performance, best-in-class Lenovo All-Flash platform and will be at first focused on the European market. The Pivot3/Lenovo platform will be sold through Arrow ECS and its channel partners, giving them full access to Pivot3’s HCI offering and the ability to deliver an innovative and economically scalable solution to current and new customers. Channel partners will benefit from a robust training and certification program that includes marketing support, sales enablement and promotional programs. The partnership with Arrow ECS takes the Lenovo ThinkServer™ RD650 Server, installs Pivot3’s HCI software and creates a highly effective hyper-converged appliance. The integration of Pivot3's vSTAC OS™ software and Lenovo’s ThinkServer RD650 server will enable Lenovo appliance users to get maximum storage efficiency, fault tolerance and higher compute performance, all with single pane of glass management while delivering lower total cost of operations. For Arrow ECS, the partnership is a great way to bring hyper-converged infrastructure to one of the fastest growing segments of the IT market and satisfy the need for businesses to quickly scale IT infrastructure.

Arrow Electronics to Expand Dallas Value Recovery Operation

Arrow Electronics, Inc. announced plans to expand the company’s Value Recovery operation in Dallas, Texas. The expansion, which is slated for completion this fall, will double the Dallas facility’s capacity to process smartphones, tablets and other mobile devices for secure reuse or divestment.

 

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Price/Book 1.3x
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