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 …
Arrow Electronics 4Q Sales Fall 7.5%
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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- Filed In: Electrical, Free, News, Subscriber Only, Top Distributor Sectors
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