Arrow Electronics has reported second-quarter 2016 net income of $134.3 compared with net income of $123.9 million in the second quarter of 2015. Second-quarter sales of $5.97bn increased 2 percent from sales of $5.83bn in the prior year. Second-quarter sales, adjusted for the impact of acquisitions, were flat year over year.
“By increasingly delivering more complex solutions, we capture a greater reward. That was evidenced by our margin performance,” said Michael J. Long, chairman, president, and chief executive officer. “Our core businesses remain healthy, and we made significant progress in the quarter with respect to our digital transformation, expanding our cloud solutions, and capturing the opportunities afforded by IoT to sell the capabilities of our entire enterprise.”
Global components second-quarter sales of $3.83bn billion were up 4 percent year over year. Second-quarter sales, as adjusted, grew 1 percent year over year. Americas components sales were flat year over year. European components sales grew a healthy 7 percent year over year. Sales in the region, as adjusted, grew 3 percent year over year. Asia-Pacific components sales grew 5 percent year over year. Sales in the region, as adjusted, were flat year over year.
Global enterprise computing solutions second-quarter sales of $2.14 billion were flat year over year.
Arrow’s net income for the first six months of 2016 was $240.5, compared with net income of $230 in the first six months of 2015. Sales of $11.45bn increased 6 percent from sales of $10.83bn in the first six months of 2015.
Arrow is forecasting sales will be between $5.65bn and $6.05bn in the third quarter, with global components sales between $3.725bn and $3.925bn, and global enterprise computing solutions sales between $1.925bn and $2.125bn.