Arrow Electronics Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Arrow Electronics, Inc. (ARW) reported second-quarter 2015 net income of $123.9 million, or $1.28 per share compared to $127.9 million, or $1.27 per share, in the second quarter of 2014. Excluding certain items, net income would have been $148.9 million, or $1.54 per share in the second quarter of 2015.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.50 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter sales of $5.83 billion increased 3 percent from sales of $5.68 billion in the prior year. Second-quarter sales, adjusted for the impact of acquisitions and changes in foreign currencies, increased 3 percent year over year. Analysts expected revenue of $5.71 billion for the quarter.

Arrow Electronics believes its third-quarter sales will be between $5.55 billion and $5.95 billion. The company expects earnings per share, excluding any charges, to be in the range of $1.40 to $1.52. Analysts expect the company to report earnings per share of $1.42 on revenue of $5.64 billion.