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Arrow Electronics: 1Q Earnings Snapshot

CENTENNIAL, Colo. (AP) _ Arrow Electronics Inc. (ARW) on Thursday reported first-quarter net income of $140.7 million.

On a per-share basis, the Centennial, Colorado-based company said it had net income of $1.63. Earnings, adjusted for restructuring costs and amortization costs, came to $1.84 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The electronics maker posted revenue of $7.16 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $6.95 billion.

For the current quarter ending in July, Arrow Electronics expects its per-share earnings to range from $1.94 to $2.06.

The company said it expects revenue in the range of $7.53 billion to $7.93 billion for the fiscal second quarter.

Arrow Electronics shares have climbed 21% since the beginning of the year. The stock has increased 10% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW