Arrow Electronics Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Arrow Electronics Inc. (ARW) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $79.72 million, or $1.51 per share. This compares with $83.60 million, or $1.53 per share, last year.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $94.80 million or $1.80 per share for the period.

Analysts on average had expected the company to earn $1.43 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 1.6% to $6.814 billion from $6.924 billion last year.

Arrow Electronics Inc. earnings at a glance (GAAP) :

-Earnings: $79.72 Mln. vs. $83.60 Mln. last year. -EPS: $1.51 vs. $1.53 last year. -Revenue: $6.814 Bln vs. $6.924 Bln last year.

-Guidance: Next quarter EPS guidance: $1.90 - $2.10 Next quarter revenue guidance: $6.70 - $7.30 Bln