Arrow Electronics Q3 Sales Rise 1.8%
Commercial electronics provider Arrow Electronics announced its third-quarter earnings today, with revenue increasing 1.8%, to $5.05 billion compared to Q3 2012's $4.96 billion.
CEO Michael J. Long proclaimed the positive results "excellent" and added in the company press release that "we continue to execute well, striking the right balance between maximizing our performance in the short term and investing in our long term strategy."
At $162.7 million, Arrow's operating income took a slight hit this quarter compared to Q3 2012's $163.8 million. The company's net income dropped somewhat more substantially, from $103.6 million in Q3 2012 to $96.8 million, or $0.96 per share, in Q3 of 2013.
Cash-wise, Arrow took a 38% drop from where it was this time last year, to $251.7 million. On a trailing-12-month basis, the company currently has $423 million in cash to its name, which Long said "surpassed our targeted goals."
Arrow has set its expectations for next quarter's total sales to be between $5.6 billion and $6.0 billion.
The article Arrow Electronics Q3 Sales Rise 1.8% originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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