Last $51.98 USD
Change Today +2.53 / 5.12%
Volume 739.2K
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As of 8:04 PM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

arrow electronics inc (ARW) Key Developments

Arrow Electronics Becomes Authorized Distributor of Lenovo Enterprise Products

Arrow Electronics, Inc. announced it is now an authorized North American Lenovo distributor System X and related solutions following the transition of IBM's System X server business to Lenovo effective Oct. 1, 2014. Additionally, Lenovo's ThinkServer rack servers, tower servers and enterprise storage product lines are available through Arrow. Future offerings from Lenovo through Arrow will include the low-end storage and associated networking products to be announced in the coming weeks.

Arrow Electronics Releases BeMicro Max 10 FPGA Evaluation Board

Arrow Electronics, Inc. has released the BeMicro Max 10 FPGA evaluation board. Developed in collaboration with Altera and Analog Devices, the BeMicro Max 10 is ideally suited for testing the features and functionality of MAX 10 FPGAs. MAX 10 FPGAs revolutionize non-volatile FPGAs by integrating within a small-form factor device dual-configuration flash, analog blocks, memory, DSP and embedded processing capabilities. Specifications for the BeMicro Max 10 are available at www.arrow.com/bemicro. The BeMicro Max 10 was developed by Arrow's engineers for customers seeking a low-cost method to test the Altera MAX(R) 10 FPGA product family, particularly in applications that require instant-on functionality and the performance and flexibility of an FPGA.

Arrow Electronics, Inc. Announces Distribution Agreement with Rackspace

Arrow Electronics, Inc. announced a distribution agreement with Rackspace that will expand the company's cloud service portfolio in the United States and Canada. Through the agreement, Arrow solution providers can enter the Rackspace reseller program that provides volume discounts, pre- and post-sales support and access to helpdesk services and financing services. The Rackspace managed cloud portfolio includes among other services public multi-tenant, private and dedicated single-tenant cloud servers, as well as data stores, e-commerce, digital marketing and VMware(R)-powered solutions. The Rackspace solutions are available through ArrowSphere, a platform that provides the channel ecosystem, such as managed service and solution providers and independent software vendors, with easy access to cloud services. ArrowSphere features best-of-breed offerings from leading service providers, as well as customizable webstores through which solution providers can present Arrow cloud offerings, as well as their own cloud services, to customers.

Arrow Offers Eurotech's ReliaCELL 10-20 Module

Arrow Electronics, Inc. will carry Eurotech's first cellular module in the Americas, ReliaCELL 10-20, making it the only distributor to offer this Eurotech product to date. The ReliaCELL 10-20 is a mountable cellular adapter designed to integrate with the Internet of Things, machine-to-machine and enterprise appliances for fast and reliable cellular connectivity. The ReliaCELL 10-20 comes certified and carrier-approved to enhance time to market for products.

Arrow Electronics, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2014; Provides Earnings Guidance for the Third Quarter of 2014

Arrow electronics, inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 28, 2014. For the quarter, the company reported sales of $5,676,539,000 compared to $5,306,085,000 for the same period a year ago. Operating income was $208,269,000 compared to $155,875,000 last year. Income before income taxes was $180,530,000 compared to $127,036,000 last year. Consolidated net income was $128,060,000 compared to $90,036,000 last year. Net income attributable to shareholders was $127,884,000 or $1.27 per diluted share compared to $89,935,000 or $0.86 per diluted share last year. Net cash provided by operating activities was $159,435,000 compared to $333,917,000 last year. Acquisition of property, plant, and equipment was $29,160,000 compared to $26,810,000 last year. Adjusted operating income was $228,771,000 compared to $194,968,000 last year. Adjusted net income attributable to shareholders was $144,277,000 or $1.43 per diluted share compared to $123,953,000 or $1.19 per diluted share last year. Adjusted sales were $5,676,539,000 compared to $5,632,531,000 for the same period a year ago. Return on working capital for the second quarter was 27.2%, up nearly 300 basis points over last year. And return on invested capital was 10.5%, also up year-over-year. For the six months, the company reported sales of $10,758,579,000 compared to $10,155,714,000 for the same period a year ago. Operating income was $386,009,000 compared to $293,427,000 last year. Income before income taxes was $330,050,000 compared to $232,764,000 last year. Consolidated net income was $235,252,000 compared to $167,994,000 last year. Net income attributable to shareholders was $235,004,000 or $2.33 per diluted share compared to $167,810,000 or $1.58 per diluted share last year. Net cash provided by operating activities was $283,472,000 compared to $154,513,000 last year. Acquisition of property, plant, and equipment was $62,003,000 compared to $53,561,000 last year. Adjusted operating income was $429,072,000 compared to $363,087,000 last year. Adjusted net income attributable to shareholders was $268,324,000 or $2.66 per diluted share compared to $227,066,000 or $2.14 per diluted share last year. Adjusted sales were $10,758,579,000 compared to $10,785,522,000 for the same period a year ago. For the third quarter, the company expects total sales will be between $5.25 billion and $5.65 billion, with global components sales between $3.55 billion and $3.75 billion and global enterprise computing solutions sales between $1.7 billion and $1.9 billion. As a result of this outlook, the company expects earnings per share, on a diluted basis, excluding any charges to be in the range of $1.26 to $1.38 per share. The guidance assumes an average tax rate in the range of 27% to 29%.

 

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