RESULTS | Arrow publishes first Quarter 2020 results

Arrow Electronics' first quarter 2020 sales were worth $6.38 billion. Compared to the first quarter of 2019, the figure is down 11%.

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Sales of Arrow Electronics in the first quarter of Arrow Electronics in the first quarter of 2020. Compared to the first quarter of 2019, the figure is down 11%.

"Arrow maintains a strong commitment to design, engineering, marketing and supply services, which play an essential role for our stakeholders facing an unprecedented crisis like the Covid-19 pandemic," said Michael J. Long, Chairman, President and CEO of the company. "I am grateful to our dedicated teams in all regions, who worked with a sense of urgency to ensure business continuity for suppliers and customers. Arrow is also supporting the efforts of the medical community by providing electronic components and data management hardware and software systems."

Global component sales for the first quarter were worth $4.55 billion, down 12% year-on-year. Specifically, the decrease was 5% in the Asia-Pacific region, 13% in Europe and 19% in the Americas.

"Despite production stoppages, border closures and orders to stay in their homes, our teams demonstrated an unwavering focus on the needs of our customers in the production of critical electronic equipment, achieving financial results in line with pre-pandemic expectations. Looking ahead to the second half of the year, we are confident of a cautious and measured return to normal business activities and feel well positioned to continue to benefit from the good class flow generated by our business."

 

 

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