Arrow Electronics Q1 Net Profit Grows - Quick Facts

(RTTNews) - Arrow Electronics, Inc. (ARW) Tuesday reported a rise in net earnings as well as sales for the first quarter.

For the three months to March, net earnings surged to $107.12 million or $1.06 per share, from $77.87 million or $0.72 per share a year earlier.

Excluding certain items, earnings attributable to shareholders were $124.05 million or $1.22 per share, compared with $103.11 million or $0.96 per share a year earlier.

On average, 11 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.21 for the quarter. Analysts' estimates typically exclude one-time items.

Sales for the 3-month period grew by 5 percent to $5.082 billion from $4.849 billion in the same period last year. Analysts expected revenues of $5.34 billion for the quarter.

For the second quarter, the company expects earnings, excluding any charges, of $1.35 to $1.47 per share on sales of $5.45 billion to $5.85 billion. Analysts expect earnings of $1.45 per share on revenues of $5.77 billion for the second quarter.