Electronics firm's income rises
Nu Horizons Electronics Corp., a Melville distributor of active and passive electronic components, announces quarterly results.
Third quarter: Ended Nov. 30
Net income: $1.76 million compared with $0.65 million in the same period last year
Net sales: $158.5 million compared with $179.4 million in the year-ago quarter
Outlook: The company says cash flow from operations and bank loans “will be sufficient to finance its operations for at least the next 12-month period.”
Company statement: Stockholders approved the acquisition of the company by Arrow Electronics Inc. on Dec. 7. The deal is expected to close in the first quarter of calendar year 2011.
That's Martin Kent, the company president, above left.
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