Arrow Electronics Q3 Sales Rise - Quick Facts

(RTTNews) - Arrow Electronics, Inc.(ARW), Wednesday posted a lower third-quarter net income, in spite of increase in revenues. However, earnings per share increased by a penny, on slightly higher share count. For the fourth quarter, the company expects earnings better than the Street view.

For the three-month period, the company reported net income of $96.8 million compared with $103.6 million last year. On a per share basis, the net income was $0.95 per share, compared with $0.94 per share last year.

Excluding certain items, the company said the net income would have been $119.9 million or $1.18 per share, compared with $119.3 million or $1.09 per share last year.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $1.20 for the quarter. Analysts' estimates typically exclude one-time items.

Sales increased 2 percent to $5.05 billion, from prior year's $4.96 billion. Analysts expected the company to generate revenues of $5.15 billion for the quarter.

Looking ahead, the company expects fourth-quarter total sales to be between $5.6 billion and $6 billion, and adjusted earnings to be in the range of $1.56 - $1.68 per share. Analysts expect the company to report earnings of $1.51 per share, on revenues of $5.72 billion.