-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueIntelligent Test and Inspection
Are you ready to explore the cutting-edge advancements shaping the electronics manufacturing industry? The May 2025 issue of SMT007 Magazine is packed with insights, innovations, and expert perspectives that you won’t want to miss.
Do You Have X-ray Vision?
Has X-ray’s time finally come in electronics manufacturing? Join us in this issue of SMT007 Magazine, where we answer this question and others to bring more efficiency to your bottom line.
IPC APEX EXPO 2025: A Preview
It’s that time again. If you’re going to Anaheim for IPC APEX EXPO 2025, we’ll see you there. In the meantime, consider this issue of SMT007 Magazine to be your golden ticket to planning the show.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
Arrow Electronics Reports Q3 2016 Results
November 3, 2016 | Business WireEstimated reading time: 3 minutes
Arrow Electronics, Inc. has reported third-quarter 2016 net income of $118 million, or $1.28 per share on a diluted basis, compared with net income of $109 million, or $1.15 per share on a diluted basis, in the third quarter of 2015. Excluding certain items, net income would have been $143 million, or $1.56 per share on a diluted basis, in the third quarter of 2016, compared with net income of $133 million, or $1.40 per share on a diluted basis, in the third quarter of 2015. Third-quarter sales of $5.94 billion increased 4 percent from sales of $5.7 billion in the prior year.
“Our strong execution drove record third-quarter sales for both our global components and global enterprise computing solutions businesses,” said Michael J. Long, chairman, president, and chief executive officer. “Our results this quarter continue to show our leadership position at the forefront of innovation for digital commerce, cloud, and IoT.”
Global components third-quarter sales of $3.9 billion grew 6 percent year over year. Americas components sales were flat year over year. Asia-Pacific components sales grew 16 percent year over year. Europe components sales grew 2 percent year over year. “Our investments in customer-facing sales and engineering resources over the last two years contributed to our strong growth in the Asia-Pacific region during the third quarter,” said Mr. Long.
Global enterprise computing solutions third-quarter sales of $2.03 billion grew 1 percent year over year. Sales, as adjusted, declined 1 percent year over year. Americas sales grew 6 percent year over year. Sales in the region, as adjusted, grew 1 percent year over year. Europe sales declined 10 percent year over year. Sales in the region, as adjusted, declined 6 percent year over year. “Enterprise computing solutions operating income grew 13 percent year over year, and we believe our profit growth shows the increasing value we are delivering to customers and suppliers,” added Mr. Long.
“Cash flow from operations was $24 million in the third quarter and $680 million over the last 12 months as we continue to exceed our cash flow target,” said Chris Stansbury, senior vice president and chief financial officer. “During the quarter, we returned approximately $117 million to shareholders through our stock repurchase program. We had approximately $169 million of remaining authorization under our share repurchase program at the end of the third quarter.”
Nine-Month Results
Arrow’s net income for the first nine months of 2016 was $358 million, or $3.87 per share on a diluted basis, compared with net income of $339 million, or $3.52 per share on a diluted basis in the first nine months of 2015. Excluding certain items1, net income would have been $428 million, or $4.63 per share on a diluted basis, in the first nine months of 2016 compared with net income of $410 million, or $4.26 per share on a diluted basis, in the first nine months of 2015. In the first nine months of 2016, sales of $17.38 billion increased 5 percent from sales of $16.53 billion in the first nine months of 2015.
Guidance
“As we look to the fourth quarter, we believe that total sales will be between $6.3 billion and $6.7 billion, with global components sales between $3.7 billion and $3.9 billion, and global enterprise computing solutions sales between $2.6 billion and $2.8 billion. As a result of this outlook, we expect earnings per share on a diluted basis, to be in the range of $1.68 to $1.84, and earnings per share on a diluted basis, excluding any charges, to be in the range of $1.92 to $2.08 per share. Our guidance assumes an average tax rate in the range of 25 to 27 percent and average diluted shares outstanding are expected to be 91 million. Due to timing of some discreet items, we anticipate our fourth-quarter average tax rate will be below our usual 27 to 29 percent range, but full-year 2016 average tax rate will be within the 27 to 29 percent range. We are expecting the average USD-to-Euro exchange rate for the fourth quarter to be approximately $1.11 to €1. At the midpoints of our fourth-quarter guidance ranges, full-year 2016 earnings per share, on a diluted basis, excluding certain items1, would total approximately $6.62 and grow 7 percent compared to full-year 2015. Full-year 2016 sales would total approximately $23.88 billion and would grow 3 percent compared to full-year 2015,” said Mr. Stansbury.
About Arrow Electronics
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 460 locations serving over 85 countries.
Suggested Items
Wistron Announces Q1 Financial Results
05/08/2025 | WistronWistron Corporation held a Board of Directors meeting today. Following the meeting, the Company announced its financial results for the first quarter ended March 31, 2025. Consolidated revenue reached NTD346 billion, operating income was NTD15.15 billion, profit before tax (PBT) was NTD14.81 billion, and profit after tax (PAT) was NTD5,331million, with earnings per share (EPS) of NTD1.85.
Zhen Ding Releases April 2025 Monthly Revenue Report
05/07/2025 | Zhen Ding TechnologyZhen Ding Technology Holding Limited, a global leading PCB manufacturer, reported April 2025 revenue of NT$13,589 million, up 22.90% YoY, marking a record high for the same period in the company’s history.
Schweizer Electronic AG: Business Development in Q1 of 2025
05/07/2025 | Schweizer Electronic AGThe Schweizer Group continued its growth trajectory in the first quarter of 2025. Revenue reached EUR 39.4 million in the first quarter of 2025, up 14.9% on the previous quarter (Q4 2024: EUR 34.4 million) and slightly above the level of the same quarter of the previous year (Q1 2024: EUR 39.2 million).
Airbus Reports Q1 2025 Results
05/05/2025 | AirbusConsolidated revenues increased 6% year-on-year to € 13.5 billion (Q1 2024: € 12.8 billion). A total of 136 commercial aircraft were delivered (Q1 2024: 142 aircraft), comprising 17 A220s, 106 A320 Family, 4 A330s and 9 A350s.
OSI Systems Reports Fiscal 2025 Q3 Financial Results
05/02/2025 | BUSINESS WIREOSI Systems, Inc. announced its financial results for the three and nine months ended March 31, 2025.