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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
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.
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.
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