Arrow Electronics Inc. Q1 adjusted earnings of $0.97 per share

(RTTNews) - Arrow Electronics Inc. (ARW) revealed earnings for first quarter that fell from the same period last year.

The company's profit totaled $49.50 million, or $0.61 per share. This compares with $140.74 million, or $1.63 per share, in last year's first quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $78.99 million or $0.97 per share for the period.

The company's revenue for the quarter fell 10.9% to $6.38 billion from $7.16 billion last year.

Arrow Electronics Inc. earnings at a glance:

-Earnings (Q1): $78.99 Mln. vs. $163.72 Mln. last year. -EPS (Q1): $0.97 vs. $1.90 last year. -Revenue (Q1): $6.38 Bln vs. $7.16 Bln last year.

-Guidance: Next quarter EPS guidance: $1.38 to $1.54 Next quarter revenue guidance: $6.075 - $6.675 Bln