(RTTNews) - Arrow Electronics Inc. (ARW) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $195 million, or $3.54 per share. This compares with $349 million, or $5.66 per share, in last year's fourth quarter.
Excluding items, Arrow Electronics Inc. reported adjusted earnings of $219 million or $3.98 per share for the period.
Analysts on average had expected the company to earn $3.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 15.8% to $7.85 billion from $9.32 billion last year.
Arrow Electronics Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $195 Mln. vs. $349 Mln. last year. -EPS (Q4): $3.54 vs. $5.66 last year. -Analyst Estimates: $3.72 -Revenue (Q4): $7.85 Bln vs. $9.32 Bln last year.
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