February 9, 2009

Arrow Electronics 4Q Sales Fall 7.5%

Electrical, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Arrow Electronics, Inc., Melville, NY, reported fourth quarter sales of $4.09 billion, a drop of 7.5% from fourth quarter 2007. Profit was $43.2 million, down 62%. During the fourth quarter, Arrow recorded a restructuring and integration charge of $44.4 million, primarily related to initiatives taken by the company to improve operating efficiencies.

The current economic conditions have forced Arrow to make difficult but necessary decisions to ensure that we maintain our leadership position, said Michael J. Long, president and COO. “We have already implemented a number of cost-saving initiatives to reduce the severity of impact that the deteriorating economic conditions will have on our business and employees. We estimate that the total impact …

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December Wholesale Revenues Decline 3.6%

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

December 2008 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $336.1 billion, down 3.6% from November and down 10.7% from the December 2007 level, according to the U.S. Census Bureau.

The November preliminary estimate was revised downward $0.7 billion or 0.2%. December sales of durable goods were down 2.0% from last month and were down 9.4% from a year ago.

Compared to last month, sales of lumber and other construction materials were down 8.6% and sales of motor vehicle and motor vehicle parts and supplies were down 8.1%. Sales of nondurable goods were down 4.9% from last month and were down 11.8% from last year. Sales of …

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Firms Join Resources For Executive, Management Job Search Training

Free, Human Resources in Wholesale Distribution, Management, News, Operations, Strategy, Subscriber Only / MDM Staff

DeVilling & Associates, LLC, a Sarasota, FL-based executive employment search firm focused on the industrial marketplace, has joined resources with The Loriel Group, Brighton, MI, to offer outplacement benefits to individuals seeking executive and management positions. Resources are available to job seekers and companies looking to provide outplacement services to employees.

Mergers and acquisitions and business conditions have put pressure on companies to downsize and restructure their organizations. There has also been a new trend – we have witnessed a growing number of retirees returning to the work force, says Skip DeVilling, president of DeVilling & Associates. “These two forces call for a different and methodical approach to the competitive …

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NetSuite Sales Up 30.5% In 4Q

Free, News, Subscriber Only, Technology / MDM Staff

NetSuite Inc., San Mateo, CA, reported fourth quarter sales of $41.4 million, a 30.5% increase over fourth quarter 2007. The vendor of on-demand, integrated business management software suites for mid-market enterprises and divisions of large companies, recorded a loss of $4.5 million, as compared to a loss of $3.3 million for the prior year period.

Sales for the year were $152.5 million, a year-over-year increase of 40.5%. Net loss was $15.9 million, compared to $23.9 million in 2007.

Revenue from the Americas for the year ended 2008 was $123.4 million, while revenue from international regions was $29.1 million. NetSuite added approximately 350 new customers in the fourth quarter and ended the year with over 6,600 active companies. …

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February 9, 2009

Arrow Electronics 4Q Sales Fall 7.5%

December Wholesale Revenues Decline 3.6%

Firms Join Resources For Executive, Management Job Search Training

NetSuite Sales Up 30.5% In 4Q

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