Arrow Electronics has reported first-quarter 2019 sales of $7.16bn, an increase of four per cent from sales of $6.88bn in the first quarter of 2018. First-quarter net income of $141m compared with net income of $139m in the first quarter of 2018.
In the first quarter of 2019, changes in foreign currencies had negative impacts on growth of approximately $197m or three per cent on sales.
Global components first-quarter sales of $5.19bn were up five per cent year over year. Americas components sales increased six percent year over year. Europe components sales increased two per cent year over year. Asia-Pacific components sales increased eight per cent year over year. Global components first-quarter operating income increased 2 percent year over year.
Said Michael J. Long (pictured), chairman, president, and chief executive officer. “The demand environment changed in the first quarter with customers in all regions adjusting their inventories by purchasing fewer high-value components, and more tightly managing their working capital and cash.”
Global enterprise computing solutions first-quarter sales of $1.96bn billion increased one per cent year over year. Sales, as adjusted, increased six per cent year over year.
“Enterprise computing solutions returned to profitable growth in the first quarter from our efforts to better align with next-generation hardware and software technologies, and to capture incremental business from non-traditional systems integrator and operational technology provider customers,” said Long.