Arrow Electronics has reported second-quarter 2018 sales of $7.39bn, an increase of 15% from sales of $6.42bn billion in the second quarter of 2017. Second-quarter net income of $170m compared with net income of $100m in the second quarter of 2017.
“We are providing more economic value to our customers and suppliers by expanding our design and engineering capabilities,” said Michael J. Long (pictured), chairman, president, and chief executive officer. “Customers increasingly want to purchase solutions, not just components or IT.”
Global components second-quarter sales of $5.28bn increased 18% year over year. Second-quarter sales, as adjusted, increased 16% year over year. Americas components sales were up 14% year over year. Asia-Pacific components sales increased rose 21% year over year, just topped by European components sales which surged 21% year over year. Sales in the region, as adjusted, increased 14 percent year over year. Global components second-quarter operating income increased 29% year over year.
“Demand conditions are favourable, and point to normal, sustained growth for the future,” said Long.
Global enterprise computing solutions second-quarter sales of $2.11bn increased 8% year over year.
Long added, “We are well-aligned to current IT spending trends, and have leadership positions in security, hybrid cloud, and software-defined architectures,”
In the first six months of 2018, Arrow’s sales of $14.27bn billion increased 17% from sales of $12.16bn billion in the first six months of 2017. Net income for the first six months of