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BUSINESS
January 7, 1999
Richey Electronics Inc. said Wednesday that its shareholders approved a bid by Arrow Electronics Inc. to purchase the Garden Grove-based electronics distributor for about $96.5 million in cash. The deal is scheduled to be completed today. Richey will become a wholly owned subsidiary of New York-based Arrow, the world's largest distributor of electronic components.
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BUSINESS
July 25, 2001 | Bloomberg News
Arrow Electronics Inc., the biggest distributor of computer products and electronics parts, said it will cut an additional 1,000 jobs after second-quarter profit plunged 92%. Earnings fell to $6.95 million, or 7 cents a share, as sales declined 21% to $2.51 billion. Sales of some business computer systems improved slightly at the end of the quarter, Arrow said. Third-quarter results will be "somewhat worse" than the second quarter's, the company said, without giving detailed forecasts.
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BUSINESS
July 25, 2001 | Bloomberg News
Arrow Electronics Inc., the biggest distributor of computer products and electronics parts, said it will cut an additional 1,000 jobs after second-quarter profit plunged 92%. Earnings fell to $6.95 million, or 7 cents a share, as sales declined 21% to $2.51 billion. Sales of some business computer systems improved slightly at the end of the quarter, Arrow said. Third-quarter results will be "somewhat worse" than the second quarter's, the company said, without giving detailed forecasts.
BUSINESS
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.
BUSINESS
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.
BUSINESS
June 11, 1991 | From Times Staff and Wire Reports
Arrow Electronics Inc. said it will buy the North American electronics distribution businesses of Britain's Lex Service, a move that it said will make it the world's largest distributor of electronics. Arrow said it will pay about $160 million for the businesses, including $106 million in cash. Lex Service has facilities in Westbury, N.Y. and Seattle.
BUSINESS
September 22, 1994 | From Times Staff and Wire Reports
Arrow Electronics to Buy Anthem: Arrow Electronics Inc., the world's largest electronics component distributor, said it has agreed to buy Anthem Electronics Inc. in a stock swap valued at $416.4 million, or $33.50 a share. San Jose, Calif.-based Anthem will be merged with a subsidiary of Melville, N.Y.-based Arrow. Anthem shareholders will receive 0.875 share of Arrow common stock for each of their approximately 12.4 million shares of Anthem common stock. Anthem shares closed $7.
BUSINESS
October 2, 1998 | JONATHAN GAW, TIMES STAFF WRITER
In a move to consolidate the sagging electronics distribution industry, a New York company will pay more than $280 million to acquire Garden Grove-based Richey Electronics Inc. and a majority of Bell Industries Inc. of El Segundo, the companies announced Thursday. The acquisitions by Arrow Electronics Inc. of Melville, N.Y.
BUSINESS
January 7, 1999
Richey Electronics Inc. said Wednesday that its shareholders approved a bid by Arrow Electronics Inc. to purchase the Garden Grove-based electronics distributor for about $96.5 million in cash. The deal is scheduled to be completed today. Richey will become a wholly owned subsidiary of New York-based Arrow, the world's largest distributor of electronic components.
BUSINESS
October 2, 1998 | JONATHAN GAW, TIMES STAFF WRITER
In a move to consolidate the sagging electronics distribution industry, a New York company will pay more than $280 million to acquire Garden Grove-based Richey Electronics Inc. and a majority of Bell Industries Inc. of El Segundo, the companies announced Thursday. The acquisitions by Arrow Electronics Inc. of Melville, N.Y.
BUSINESS
September 22, 1994 | From Times Staff and Wire Reports
Arrow Electronics to Buy Anthem: Arrow Electronics Inc., the world's largest electronics component distributor, said it has agreed to buy Anthem Electronics Inc. in a stock swap valued at $416.4 million, or $33.50 a share. San Jose, Calif.-based Anthem will be merged with a subsidiary of Melville, N.Y.-based Arrow. Anthem shareholders will receive 0.875 share of Arrow common stock for each of their approximately 12.4 million shares of Anthem common stock. Anthem shares closed $7.
BUSINESS
June 11, 1991 | From Times Staff and Wire Reports
Arrow Electronics Inc. said it will buy the North American electronics distribution businesses of Britain's Lex Service, a move that it said will make it the world's largest distributor of electronics. Arrow said it will pay about $160 million for the businesses, including $106 million in cash. Lex Service has facilities in Westbury, N.Y. and Seattle.
BUSINESS
October 28, 1998
The Garden Grove distributor of electronic components posted third-quarter net income of $1.2 million, or 13 cents a share, down 25% from the $1.6 million, or 17 cents a share, for the 1997 third quarter. Sales for the third quarter ended Oct. 2 declined 13% to $56.9 million from $65.1 million. Richey has signed a definitive agreement to be acquired by Arrow Electronics Inc. The transaction is expected to close around year's end.
BUSINESS
December 14, 1999 | SIOBHAN HUGHES, BLOOMBERG NEWS
Billionaire Warren Buffett, who has avoided investing in technology companies, saying he doesn't understand them, has made a bet on computer services by buying a 5.3% stake in Bell Industries Inc. of El Segundo. According to a filing with the Securities and Exchange Commission, Buffett reported that he held 506,700 Bell Industries shares as of Dec. 1. His stake in Bell had a market value of almost $3.3 million as of the close of trading Monday, when the stock was at $6.44, up $1.
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