WASHINGTON (dpa-AFX) - Arrow Electronics Inc. (ARW) released earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $371.21 million, or $5.26 per share. This compares with $236.07 million, or $3.08 per share, in last year's fourth quarter.
Excluding items, Arrow Electronics Inc. reported adjusted earnings of $379.16 million or $5.37 per share for the period.
Analysts on average had expected the company to earn $4.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.6% to $9.02 billion from $8.54 billion last year.
Arrow Electronics Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $371.21 Mln. vs. $236.07 Mln. last year. -EPS (Q4): $5.26 vs. $3.08 last year. -Analyst Estimate: $4.44 -Revenue (Q4): $9.02 Bln vs. $8.54 Bln last year.
-Guidance: Next quarter EPS guidance: $4.44 - $4.60 Next quarter revenue guidance: $6.675 - $6.975 Bln
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