Arrow Posts 11Cent Loss Per Share In 3Q

The results compare with a $159 million loss, or $1.61 per share, on revenue of $2.01 billion in last year's third quarter.

Earlier in the quarter, Arrow said it would take an $11.6 million charge for the quarter associated with the early retirement of bonds due in the fourth quarter of 2003. Excluding the charge, the Melville-based distributor reported net income of $500,000, or 1 cent per share. Last year's results include $145.1 million in charges related to a corporate restructuring. Thomson Financial/First Call had projected break-even earnings excluding charges.

"We were generally pleased to have remained marginally profitable on an operating basis in the face of the continued general worldwide economic malaise, especially in light of the impact of Europe's traditional extended summer holiday period," said Daniel Duval, chairman and CEO of Arrow, in a statement.

Sales in Arrow's North American Computer Products Group, which includes the MOCA, Support Net, SBM and Arrow/Wyle divisions, was $496 million, down from $546 million in the same period last year. Operating income from group was $10.2 million, up from $8.1 million in the year-ago quarter.