CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported fourth-quarter profit of $194.6 million.
On a per-share basis, the Centennial, Colorado-based company said it had net income of $3.75. Earnings, adjusted for one-time gains and costs, came to $4.39 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share.
The electronics maker posted revenue of $8.75 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $8.1 billion.
For the year, the company reported profit of $571.3 million, or $10.93 per share. Revenue was reported as $30.85 billion.
For the current quarter ending in March, Arrow Electronics expects its per-share earnings to range from $2.70 to $2.90.
The company said it expects revenue in the range of $7.95 billion to $8.55 billion for the fiscal first quarter.
Arrow Electronics shares have climbed 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $141.10, an increase of 23% 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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