Arrow Electronics Q3 Sales Rise 1.8%

Arrow has set its expectations for next quarter's total sales to be between $5.6 billion and $6.0 billion.

Caroline Bennett
Caroline Bennett
Oct 30, 2013 at 4:07PM
Technology and Telecom

Commercial electronics provider Arrow Electronics (NYSE:ARW) announced its third-quarter earnings today, with revenue increasing 1.8%, to $5.05 billion compared to Q3 2012's $4.96 billion.

CEO Michael J. Long proclaimed the positive results "excellent" and added in the company press release that "we continue to execute well, striking the right balance between maximizing our performance in the short term and investing in our long term strategy."

At $162.7 million, Arrow's operating income took a slight hit this quarter compared to Q3 2012's $163.8 million. The company's net income dropped somewhat more substantially, from $103.6 million in Q3 2012 to $96.8 million, or $0.96 per share, in Q3 of 2013.

Cash-wise, Arrow took a 38% drop from where it was this time last year, to $251.7 million. On a trailing-12-month basis, the company currently has $423 million in cash to its name, which Long said "surpassed our targeted goals."

Arrow has set its expectations for next quarter's total sales to be between $5.6 billion and $6.0 billion.