Advertisement
YOU ARE HERE: LAT HomeCollections

Technology | MORE ON TECH

Arrow Electronics Won't Meet Profit Forecasts

March 21, 2001|Reuters

Top electronic-component distributor Arrow Electronics Inc. said its first-quarter profit will miss Wall Street expectations because of a deepening slide in business among telecommunications and networking companies. The company said it expects to post first-quarter earnings in the range of 74 cents to 80 cents--well off the consensus estimate of $1.04, as measured by First Call/Thomson Financial. Arrow expects revenue in the latest quarter to be 10% to 15% lower than the $3.7 billion posted in the fourth quarter. Shares of Arrow dropped 87 cents to finish at $25.10 on the NYSE.

Advertisement
Los Angeles Times Articles
|
|
|