Electronic components distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, Colorado, reported 2020 sales of $28.7 billion, down 0.8% from 2019. The company reported a profit of $584.4 million, compared to a loss of $204.1 million last year.
The company reported fourth-quarter sales of $8.5 billion, up 15.2% compared with the fourth quarter of 2019. Net income of $236.1 million was about double from $112 million in the year-ago quarter.
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However, the manufacturer closed the year on a positive note with fourth-quarter sales up 2.3%.
