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Arrow Electronics of Melville reports profit up

Arrow Electronics Inc., Melville, electronic products and services

 

Fourth quarter: Ended Dec. 31

Net income: Profit of $63.1 million, compared with a loss of $871.9 million in the same period last year. (Excluding a noncash impairment charge and other factors, net income would have been $77.5 million for the 2009 quarter and $72 million for the 2008 quarter).

Net revenue: $4.2 billion compared with $4.09 billion in the year-ago quarter.

Outlook: "I am confident that we will leverage the momentum from the third and fourth quarters to maximize sales and profitable growth while taking advantage of opportunities in the market," said Michael J. Long, chairman, president and chief executive.

Company statement: "Our results reflect the exceptional work of our employees around the globe and demonstrate our commitment to our strategic priorities despite the external economic pressures of the past year."

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