WASHINGTON (dpa-AFX) - Arrow Electronics Inc. (ARW) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $99 million, or $1.86 per share. This compares with $195 million, or $3.54 per share, last year.
Excluding items, Arrow Electronics Inc. reported adjusted earnings of $158 million or $2.97 per share for the period.
Analysts on average had expected the company to earn $2.68 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 7.2% to $7.283 billion from $7.849 billion last year.
Arrow Electronics Inc. earnings at a glance (GAAP) :
-Earnings: $99 Mln. vs. $195 Mln. last year. -EPS: $1.86 vs. $3.54 last year. -Revenue: $7.283 Bln vs. $7.849 Bln last year.
-Guidance: Next quarter EPS guidance: $1.30 to $1.50 Next quarter revenue guidance: $5.98 - $6.58 Bln
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