Arrow Electronics Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Arrow Electronics Inc. (ARW) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $198.66 million, or $3.53 per share. This compares with $342.40 million, or $5.27 per share, in last year's third quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $233.15 million or $4.14 per share for the period.

Analysts on average had expected the company to earn $3.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.6% to $8.01 billion from $9.27 billion last year.

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

-Earnings (Q3): $198.66 Mln. vs. $342.40 Mln. last year. -EPS (Q3): $3.53 vs. $5.27 last year. -Analyst Estimates: $3.51 -Revenue (Q3): $8.01 Bln vs. $9.27 Bln last year.

-Guidance: Full year EPS guidance: $3.61 - $3.81 Full year revenue guidance: $7.50 - $8.10 Bln