Arrow Electronics issued its quarterly report yesterday, reporting $1 88 earnings per share, beating analyst expectations. The distie reported revenue of $6.4bn (£4.18), a 4% rise year-on-year.
Net profit for the quarter rose to $184, up 6.7% on the previous year. Total sales for the year stood at $22.8bn, a 6.6% increase from 2013.
We delivered a record fourth quarter results, and that completed an outstanding year in 2014,” said CEO Michael Long in a conference call with analysts. “We executed well on our organic strategic initiatives, we continued to deliver best-in-class financial performance and we also returned substantial capital to our shareholders through our buyback program.”
The Enterprise Computing Solutions (ECS) arm, which this week acquired Computacenter’s tech disposal service, grew by 3.3% to $2.81bn and the global components arm of the business grew by 4.5 per cent to $3.59bn.
Overall figures took a hit as the EUR continues its bearish trend. The company estimated that the depreciation of the euro had a 5% negative impact on figures over the course of the year, equivalent to $175m.
"As we look forward to 2015, we see no meaningful improvement in the economic backdrop and no material changes in the markets we serve," Long summarised. "But as we proved once again in 2014, we're able to produce strong results independent of the market environment, and we look forward to continuing this into 2015."