Arrow Electronics boosts 4Q profit outlook

AP News
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Posted: Dec 21, 2009 8:51 AM

Arrow Electronics Inc. raised its profit forecast for the fourth quarter on Monday, pointing to better-than-expected sales in its electronics components business.

For the three months ending in December, the company expects earnings of 57 cents to 63 cents per share, up from a previous forecast of 44 cents to 56 cents per share.

Arrow also narrowed its sales outlook to a range of $3.8 billion to $4.2 billion, compared with a previous projection of $3.65 billion to $4.25 billion.

Analysts polled by Thomson Reuters project earnings of 52 cents per share on sales of $4 billion.