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Arrow reports record-high profit

Arrow Electronics Inc. Melville headquarters. (April 27, 2011)

Arrow Electronics Inc. Melville headquarters. (April 27, 2011) Credit: David Pokress

As the headquarters operation of Arrow Electronics Inc. gets set to transfer to its new seat of power in Colorado, the tech supplier on Wednesday announced what may be its final quarterly report as a Long Island firm: a $132.2 million profit on $5.2 billion in sales.

That's the sixth quarter in a row that Arrow has set a new record for earnings, Michael Long -- the chief executive, president and chairman, who has long been based in Denver -- said in a Wednesday news release.

Arrow was unchanged in pre-market trading, with a closing price Wednesday of $35.74, a 4 percent increase for the year.

Arrow is listed as the 140th largest company by revenue in the country in the Fortune 500, as ranked by sales. It employs 550 on Long Island, in Melville -- a number the company says won't change with the headquarters shift. It has 12,700 workers worldwide. Arrow also owns Nu Horizons Electronics Corp., of Melville.

The earnings report was from the third quarter of Arrow's 2011 fiscal year, ending Oct. 31, 2011. The reported increases were in comparison to the same quarter last year, when Arrow had $118.5 million profit on $4.6 billion in sales.

Despite a worldwide economic slowdown Arrow's earnings per share are projected to increase 20 percent for the year as a whole, compared to 2010, Long said.

Global components sales of $3.65 billion increased 6 percent year over year, the company said.

"Sales growth in the Americas and Europe was partially offset by weakness in the Asia Pacific region, reflecting difficult market conditions," Long said.

A separate segment of the company, global enterprise computing solutions, known as ECS, had sales of $1.54 billion, an increase of 26 percent year over year, the company said. The ECS unit provides services, software, computer servers and storage.

The company said it expects the fourth quarter's sales to fall within a range of $5.29 billion and $5.69 billion.

Arrow reported profits of $479.6 million last year on sales of $18.8 billion. It is a supply channel partner for more than1,200 suppliers and 115,000 original equipment manufacturers, contract manufacturers and commercial customers. It has more than 340 offices in 52 countries.

Newsday reported on Arrow's relocation plans earlier this month.

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