Key Developments: Arrow Electronics Inc (ARW)
38.69USD
24 May 2013
$-1.03 (-2.59%)
$39.72
$39.33
$39.56
$38.53
689,312
651,714
$42.26
$30.84
Latest Key Developments (Source: Significant Developments)
Arrow Electronics Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates
Arrow Electronics Inc announced that for the second quarter of 2013, it expects total sales to be between $4.9 billion and $5.3 billion, with global components sales between $3.15 billion and $3.35 billion and global enterprise computing solutions sales between $1.75 billion and $1.95 billion. As a result of this outlook, earnings per share (EPS), on a diluted basis, excluding any charges should be in the range of $.95 to $1.07 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $5.1 billion and EPS of $1.04 for the second quarter of 2013. Full Article
Arrow Electronics Inc Signs Global Distribution Agreement with Critical Link
Arrow Electronics Inc announced that it has signed a distribution agreement with Critical Link, a leader in the development of embedded systems with expertise in a broad range of electronic applications. Under the agreement, Arrow will distribute Critical Link`s ARM and DSP-based system-on-modules (SoMs) and development kits to customers in North America. Full Article
Arrow Electronics Inc Announces Additional $200 Million Share Repurchase Program
Arrow Electronics Inc announced the approval by the Company`s Board of Directors of the repurchase of up to an additional $200 million of common stock through a share repurchase program. Full Article
Arrow Electronics Inc Prices $600 Million Notes Offering
Arrow Electronics Inc announced that the pricing of two series of the Company`s senior unsecured notes in an aggregate principal amount of $600 million. Of these, $300 million will mature on March 1, 2018 and will bear interest at an annual rate of 3.00% (the 2018 Notes), and $300 million will mature on March 1, 2023 and will bear interest at an annual rate of 4.50% (the 2023 Notes together with the 2018 Notes, the Notes). The offering is expected to close on February 20, 2013. Net proceeds from this offering are expected to be used to repay Arrow Electronics' outstanding 6.875% notes due July 1, 2013 at or before maturity and for other general corporate purposes, including acquisitions. Pending the application of the proceeds, the proceeds may be applied to reduce amounts outstanding under Arrow Electronics' revolving credit facility or securitization program. The Notes are being offered under an automatic shelf registration statement previously filed with the Securities and Exchange Commission, and which became effective upon filing. The offering is being led by Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC. Full Article
Arrow Electronics Inc Issues Q1 2013 Guidance In Line With Analysts' Estimates
Arrow Electronics Inc announced that for the first quarter of 2013, it expects total sales will be between $4.6 billion and $5.0 billion, earnings per share, on a diluted basis, excluding any charges to be in the range of $.80 to $.92 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $4.8 billion and EPS of $0.89 for the first quarter of 2013. Full Article
Lantronix Signs With Arrow Electronics Inc to Expand Distribution
Arrow Electronics Inc announced Lantronix Inc has signed an agreement with the Company to extend Arrow's product sales programs, product delivery and distribution services for Lantronix throughout the Asia-Pacific (APAC) region. Full Article
Arrow Electronics Inc Reaches Settlement With E.ON SE And VEBA Electronics LLC
Arrow Electronics Inc announced that it has entered into a Settlement Agreement with E.ON SE and VEBA Electronics LLC relating to certain disputes originating from Arrow's acquisition of Wyle Electronics from the VEBA Group in August of 2000. Under the Settlement Agreement, E.ON will pay Arrow an aggregate amount of $110 million. The final and irrevocable settlement among Arrow, E.ON and VEBA of all present or future claims relating to or arising out of the Wyle acquisition, including settlement of related income tax disputes; and The dismissal of all litigation between Arrow, E.ON and VEBA including all claims and counterclaims before the District Court of Frankfurt am Main in Germany, and the termination of a related ongoing mediation proceeding that commenced in December 2009. Under the Settlement Agreement, Arrow retains the right to past iinsurance recoveries and any future amounts recovered from pending claims or claims yet to be asserted under any relevant identified or unidentified insurance policies. Arrow believes that the settlement amount together with any insurance recoveries will be sufficient to cover any potential future costs relating to environmental clean-up activities and any other asserted or unasserted claims related to environmental matters arising out of the Wyle Acquisition, however it is possible unexpected costs beyond those anticipated could occur. Full Article
Arrow Electronics Inc Acquires Wireless And Infrastructure Business Unit Of Waching Company Ltd
Arrow Electronics Inc announced that the Company has signed a definitive agreement pursuant to which Arrow will acquire all of the assets and operations of the wireless and infrastructure business unit of Waching Company Ltd. Terms of the transaction were not disclosed. Full Article
Arrow Electronics Inc And Altia Inc Sign Distribution Agreement For User Interface Engineering
Arrow Electronics Inc announced an agreement with Altia, Inc. to distribute the Company`s suite of user interface development tools to North American customers. Altia offers a concept-to-code tool suite that provides the capability to create custom graphical user interfaces, without hand coding, and generate graphics code for a wide array of industry-leading hardware targets. Full Article
Arrow Electronics Inc Issues Q4 2012 Guidance; EPS Guidance Below Analysts' Estimates
Arrow Electronics Inc announced that for the fourth-quarter of 2012, it expects sales will be between $5.1 and $5.5 billion, earnings per share (EPS), on a diluted basis, excluding any charges, are expected to be in the range of $1.01 to $1.13. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $5.3 billion and EPS of $1.25 for the fourth quarter of 2012. Full Article
TEXT - Fitch rates Arrow Electronics proposed notes
Feb 12 - Fitch Ratings has assigned a 'BBB-' rating to Arrow Electronics, Inc.'s (Arrow) proposed offering of $500 million in senior unsecured notes. Fitch expects a portion of the proceeds to be used to refinance Arrow's $332 million senior unsecured note maturing July 2013. KEY RATING DRIVERS: Credit strengths include the company's leading market positions in both component and enterprise computing distribution worldwide; the ability to generate cash from operations in a normal revenue gr
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
