Arrow Electronics Q2 Earnings Rise

(RTTNews) - Arrow Electronics, Inc. (ARW) Tuesday posted an increase in its second-quarter earnings to $127.9 million or $1.27 per share from $89.9 million or $0.86 per share last year.

Excluding certain items, the company earned $144.3 million or $1.43 per share. On average, 11 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.42 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales rose by 7 percent to $5.68 billion from $5.31 billion in the prior year. Analysts projected revenue of $5.69 billion.

Looking ahead, for the third quarter, the company expects its global components and enterprise computing solutions businesses to be no different from the second quarter. Accordingly, it expects earnings per share in the range of $1.26 -$1.38. Total sales is projected to be between $5.25 billion and $5.65 billion. Analysts estimate earnings of $1.30 per share on revenue of $5.39 billion.