Arrow Electronics has reported a 14% sales surge in its fourth quarter results. It posted revenues of $6.15bn compared to $5.40bn in the fourth quarter of last year. Income took a hit from some one time charges and absence of gains recorded a year ago to fall to $134.8m against $174.7m last year.
Electronic component sales grew 8% year on year in the fourth quarter to $3.44bn. European component sales were up from $772m last year to $887m in 2013.
Asia/Pacific was the star performer in the components business with China in the vanguard as sales in the region grew 9% to $1.06bn from $973m in the previous year.
US sales edged up 3% to $1.47bn.
Arrow’s Enterprise Computing Solutions business sales surged to $2.71bn from $2.21bn last year, an increase of 23%. In Europe ECS sales were up 29% to $1.05bn.
In the full year Arrow posted sales of $21.4bn up 5% on 2012.
In its outlook Arrow is cautious on prospects for 2014.
“We believe that total sales will be between $5.1 billion and $5.5 billion, with global components sales between $3.3 billion and $3.5 billion and global enterprise computing solutions sales between $1.8 billion and $2 billion,” said Paul J Reilly, Arrow’s Chief Financial Officer.
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