Paul Reilly, Chief Financial Officer and Executive Vice President of Arrow Electronics, Inc. (NYSE:ARW) at Media and Telecom Conference said, "acquisitions for sure will be something that we'll continue to be rigorous about and disciplined about. But when we talk about the allocation to capital, the first thing at the top of our list, as you can imagine, is organic growth -- lowest risk, highest reward. Disciplined approach to M&A, and then returning capital to investors".

Arrow Electronics, Inc. reported unaudited consolidated earnings results for the first quarter ended March 30, 2013. For the quarter, the company reported net income of $77.96 million compared to net income of $113.72 million for the same period a year ago. Net income attributable to shareholders was $77,875,000 or $0.72 per diluted share compared to $113,628,000 or $1.00 per diluted share last year. Sales were $4,849,629,000 compared to $4,889,529,000 last year. Operating income was $137,552,000 compared to $187,449,000 last year. Income before income taxes was $105,728,000 compared to $162,501,000 last year. Net cash used for operating activities was $179,404,000 compared to net cash provided by operating activities of $250,335,000 last year. Acquisition of property, plant, and equipment was $26,751,000 compared to $22,253,000 last year. Operating income, as adjusted was $159,162,000 compared to $195,692,000 last year. Net income attributable to shareholders, as adjusted was $95,997,000 or $0.89 per diluted share compared to $119,769,000 or $1.05 per diluted share last year. Consolidated sales, as adjusted was $4,852,848,000 compared to $4,894,637,000 last year. For the second quarter, the company believes that total sales will be between $4.9 billion and $5.3 billion, with global components sales between $3.15 billion and $3.35 billion and global enterprise computing solutions sales between $1.75 billion and $1.95 billion. As a result of this outlook, earnings per share, on a diluted basis, excluding any charges should be in the range of $0.95 to $1.07 per share. The company's guidance assumes an average tax rate in the range of 27% to 29%, average diluted shares outstanding of 107.1 million, and an average Euro to USD exchange rate for the second quarter of 1.30 to 1. And for the remainder of the year, The company expects the effective tax rate to be between 27% and 29%.

Arrow Electronics, Inc. Presents at Jefferies 2013 Global Technology, Media and Telecom Conference, May-08-2013 10:30 AM. Venue: The Westin New York, Times Square Hotel, New York, New York, United States. Speakers: Paul J. Reilly, Chief Financial Officer and Executive Vice President of Finance & Operations.