Arrow Electronics Inc. Q1 Income Climbs

(RTTNews) - Arrow Electronics Inc. (ARW) released a profit for its first quarter that advanced from the same period last year.

The company's profit totaled $206.32 million, or $2.72 per share. This compares with $49.50 million, or $0.61 per share, in last year's first quarter.

Analysts had expected the company to earn $2.3 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.3% to $8.38 billion from $6.38 billion last year.

Arrow Electronics Inc. earnings at a glance:

-Earnings (Q1): $206.32 Mln. vs. $49.50 Mln. last year. -EPS (Q1): $2.72 vs. $0.61 last year. -Analysts Estimate: $2.3 -Revenue (Q1): $8.38 Bln vs. $6.38 Bln last year.

-Guidance: Next quarter EPS guidance: $2.82 - $2.98