Arrow Electronics Inc. (ARW) revealed a profit for third quarter that dropped from last year.
The company's bottom line totaled $92.13 million, or $1.10 per share. This compares with $176.53 million, or $1.99 per share, in last year's third quarter.
Excluding items, Arrow Electronics Inc. reported adjusted earnings of $154.83 million or $1.86 per share for the period.
The company's revenue for the quarter fell 5.5% to $7.08 billion from $7.49 billion last year.
Arrow Electronics Inc. earnings at a glance:
-Earnings (Q3): $154.83 Mln. vs. $190.91 Mln. last year.
-EPS (Q3): $1.86 vs. $2.15 last year.
-Revenue (Q3): $7.08 Bln vs. $7.49 Bln last year.
-Guidance:
Next quarter EPS guidance: $2.10 - $2.26
Next quarter revenue guidance: $7.125 - $7.525 Bln
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