Arrow Electronics’ European component sales grew 15 per cent in the first quarter of 2016, the sixth straight quarter of growth for sales in the region. Arrow’s global component sales grew 10 per cent year on year to $3.68bn in the first quarter. Americas components sales grew 3 percent year over year, and Asia Pacific reported 15 per cent sales growth compared with Q1 2015.
The distributor reported first-quarter 2016 net income of $106.2m compared with net income of $106.1m in the first quarter of 2015. Excluding certain items, net income would have been $132.2m in the first quarter of 2016, compared with net income of $127.8m in the first quarter of 2015. First-quarter sales of $5.47bn increased nine percent from sales of $5bn in the prior year.
“We continued our strong momentum into 2016 by producing record first-quarter sales and earnings per share. Our global components and enterprise computing solutions businesses produced growth in all regions, delivering earnings per share of $1.43,” said Michael J. Long, chairman, president, and chief executive officer of Arrow Electronics. “We attribute our strong performance to our strategic investments in customer-facing talent and resources, as well as our focus on design and value-added services for global components and our solution-selling approach for enterprise computing solutions.”
“Europe has delivered six straight quarters of strong growth, and Americas returned to growth as we anticipated. In Asia, growth by our core small-to-medium-sized manufacturing customers was better than we anticipated,” added Long.
Global enterprise computing solutions first-quarter sales of $1.8bn billion grew nine percent year over year. Europe sales grew 4 percent year over year. “Enterprise computing solutions posted record first-quarter sales, operating income, and operating margin,” commented Long.
The company expects second quarter total sales of between $5.825bn and $6.225bn, with global components sales between $3.75bn and $3.95bn, and global enterprise computing solutions sales between $2.075bn and $2.275bn.
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