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Arrow Electronics lifts low end of 2Q profit view

By Associated Press

June 5, 2008

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Arrow Electronics Inc. raised the low end of its second-quarter earnings forecast Thursday to a level that would meet analysts' estimates.

The electronics and computer products distributor now expects net income in a range of 76 cents to 80 cents per share, which excludes any charges but includes an estimate for amortization of intangible assets between 2 cents and 3 cents.

Arrow previously predicted earnings in a range of 74 cents to 80 cents per share.

Analysts polled by Thomson Financial predict a second-quarter profit of 76 cents per share. Estimates typically exclude one-time items.

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