Arrow Electronics Q1 Adj. Profit Meets View, But Revenues Miss - Quick Facts

(RTTNews) - Arrow Electronics, Inc. (ARW) reported first-quarter 2015 net income of $106.06 million or $1.09 per share, compared to $107.12 million or $1.06 per share in the year-ago period.

Excluding certain items, adjusted net income would have been $127.80 million or $1.32 per share this quarter, compared to $124.05 million or $1.22 per share in the same period last year. On average, 10 analysts polled by Thomson Reuters estimated the company's earnings to be $1.32 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales declined 2 percent to $5.00 billion from $5.08 billion in the prior-year period. Analysts expected revenues of $5.11 billion for the quarter.

Looking ahead to the second quarter, Arrow Electronics forecast earnings per share, excluding any charges, in a range of $1.43 to $1.55 per share and total sales between $5.45 billion and $5.85 billion. Street expects the company to earn $1.49 per share for the quarter on revenues of $5.74 billion.

The company expects the weaker Euro will have a negative impact of $350 million or 6 percent on sales and $0.12 or 8 percent on earnings per share on a diluted basis, respectively, compared to the year-ago period.