Arrow Electronics Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Arrow Electronics Inc. (ARW) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $273.75 million, or $4.60 per share. This compares with $364.75 million, or $5.31 per share, in last year's first quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $273.59 million or $4.60 per share for the period.

Analysts on average had expected the company to earn $4.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $8.74 billion from $9.07 billion last year.

Arrow Electronics Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $273.75 Mln. vs. $364.75 Mln. last year. -EPS (Q1): $4.60 vs. $5.31 last year. -Analyst Estimates: $4.50 -Revenue (Q1): $8.74 Bln vs. $9.07 Bln last year.

-Guidance: Next quarter EPS guidance: $4.25 - $4.45 Next quarter revenue guidance: $8.42 - $9.02 Bln