CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported fourth-quarter earnings of $194.5 million.
On a per-share basis, the Centennial, Colorado-based company said it had profit of $3.54. Earnings, adjusted for one-time gains and costs, came to $3.98 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.70 per share.
The electronics maker posted revenue of $7.85 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $7.82 billion.
For the year, the company reported profit of $903.5 million, or $15.84 per share. Revenue was reported as $33.11 billion.
For the current quarter ending in March, Arrow Electronics expects its per-share earnings to range from $2.20 to $2.40.
The company said it expects revenue in the range of $6.7 billion to $7.3 billion for the fiscal first quarter.
Arrow Electronics shares have declined 11% since the beginning of the year. The stock has decreased 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW
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