Arrow points to improving economic climate


Arrow points to improving economic climate

Microscope contributor

Arrow has cast off the shackles of the recession after posting double digit rises in sales and profits for the fourth quarter.

Top line growth of 24% saw sales swell to $5.24bn (£3.23bn) for the period ended 31 December as income went up 150% to $157.9m (£97.4m) with restructuring and integration charges coming in at $6.1m.

"Our results clearly demonstrate that we emerged from the downturn as an even stronger company," said Arrow chief financial officer Paul Reilly.

The firm's global component arm pushed up sales 29% to $3.34bn and turnover from the enterprise computing unit (ECS) moved up 18% to $1.89bn.

For the year, sales climbed 27.6% to $18.74bn and profits were $479.6m compared to $123.5m in 2009.

CEO Michael Long hailed the financials for ECS that were ground out "in the face of the challenging market conditions at the beginning of the year".

"There is no question growth has returned to this business and we are well positioned heading into 2011. By gaining market share, expanding our line card, and acquiring strategic businesses, ECS is transforming its business model into one with a more dynamic and diversified customer base," he said.

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