Arrow Electronics Inc. (ARW) revealed earnings for first quarter that fell from the same period last year.
The company's profit totaled $49.50 million, or $0.61 per share. This compares with $140.74 million, or $1.63 per share, in last year's first quarter.
Excluding items, Arrow Electronics Inc. reported adjusted earnings of $78.99 million or $0.97 per share for the period.
The company's revenue for the quarter fell 10.9% to $6.38 billion from $7.16 billion last year.
Arrow Electronics Inc. earnings at a glance:
-Earnings (Q1): $78.99 Mln. vs. $163.72 Mln. last year.
-EPS (Q1): $0.97 vs. $1.90 last year.
-Revenue (Q1): $6.38 Bln vs. $7.16 Bln last year.
-Guidance:
Next quarter EPS guidance: $1.38 to $1.54
Next quarter revenue guidance: $6.075 - $6.675 Bln
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