Arrow Electronics Q4 Results Top Consensus - Quick Facts

(RTTNews) - Arrow Electronics, Inc. (ARW) reported lower fourth-quarter 2014 net income of $116.2 million, or $1.18 per share on a diluted basis, compared with net income of $134.8 million, or $1.32 per share on a diluted basis, in the fourth quarter of 2013. However, excluding certain items, net income would have been $184.4 million, or $1.88 per share this quarter, versus $172.0 million, or $1.69 per share, last year. On average, 10 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.83 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales of $6.40 billion increased 4 percent from sales of $6.15 billion in the prior-year period. Nine analysts estimated $6.33 billion in sales for the quarter.

"In the fourth quarter we produced record results, completing an outstanding year. Earnings per share of $1.88 were above our expectations, with sales of $6.4 billion above the midpoint of our guidance. Our global components and enterprise computing solutions segments both delivered sales and operating income growth. The stable demand environment for global components matched our expectations. Our focus on the higher value portion of the datacenter resulted in record operating income for our enterprise computing solutions business," said Michael Long, chairman, president, and chief executive.