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Arrow Electronics, Inc. reports developments tied to its role as a technology solutions provider for manufacturers and service providers. The company operates through Global Components and global enterprise computing solutions, with recurring updates on revenue, earnings, margins, guidance, gross billings and segment activity.
Company news also covers Arrow’s engineering and digital service offerings, including remote hardware evaluation through Digital Test Drive, customer-facing procurement and engineering workflows on arrow.com, and technical initiatives for vehicle electrical and electronic architecture. Other updates include earnings calls, investor presentations, and customer-support capabilities across component selection, design engineering, integration and supply chain services.
Arrow Electronics (NYSE:ARW) will host a conference call on February 3, 2022, at 1:00 PM ET to discuss its fourth-quarter and full-year 2021 financial results. Interested parties can register for the event online for dial-in information or access the live webcast at investor.arrow.com. A replay of the conference call will be available shortly after the event, accessible for one year. In 2020, Arrow reported sales of $29 billion, providing technology solutions for over 180,000 manufacturers and service providers.
Arrow Electronics (NYSE:ARW) has received approval from its Board of Directors to initiate a new $600 million share repurchase program, building on previous buybacks totaling $2 billion between 2016 and 2021. The company's chairman, Michael J. Long, emphasized the ability to return cash to shareholders through effective management of growth and profitability, having reduced shares outstanding by 21% over the past five years. The timing and extent of buybacks will depend on market conditions, and the program may be terminated at any time.
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Arrow Electronics (NYSE: ARW) expands its ArrowSphere platform by adding Metallic DMaaS Backup and Recovery solutions, enhancing global data management capabilities. Developed by Commvault, Metallic offers enterprise-grade data protection across various environments including Microsoft 365 and Salesforce. The partnership with Microsoft strengthens the integration, ensuring swift recovery from data loss and cyberattacks. Kristin Russell emphasizes that this addition will accelerate customers' transition to the cloud, providing streamlined services for channel partners.
Arrow Electronics has launched a new range of camera mezzanine modules designed for rapid development of AI and conventional vision solutions. The plug-and-play modules, based on onsemi sensor technology, aim to facilitate the transition from prototype to mass production for OEMs. The lineup includes models like the SRT-VISION96-AR0430 with 4MP resolution, focusing on applications in AI and security. Each module features an onsemi AP1302 image signal processor to enhance performance, supporting sensors up to 13 MP, thus catering to diverse product requirements.
Arrow Electronics has launched the PSoC™ 64 IoT Security Workshop Development Kit, its first PSA Certified platform. This kit accelerates secure system development using accepted cybersecurity methodologies and facilitates compliance with emerging IoT legislation, including NIST 8259A and EN 303 645. The platform, co-developed with Infineon, enhances security for IoT devices and simplifies programming and management of devices via AWS Cloud. It ensures that devices meet the PSA Certified security goals, promoting robust cyber-protection for the device lifecycle.
Arrow Electronics (NYSE:ARW) recently announced that Chris Stansbury, the CFO, will present at the 2021 Wells Fargo TMT Summit on November 30, 2021, at 10:00 A.M. ET. He will also be presenting at the Raymond James 2021 Technology Investors Conference on December 7, 2021, at 10:30 A.M. ET. Both presentations will be available via live webcasts at investor.arrow.com, with recordings accessible for one year. Arrow Electronics, a leader in technology solutions, reported $29 billion in sales for 2020.
Arrow Electronics reported third-quarter 2021 sales of $8.51 billion, up 18% from $7.23 billion in Q3 2020. Net income surged to $290 million, or $4.00 per share, compared to $166 million or $2.13 per share a year ago. Non-GAAP earnings were $4.04 per share. Global components sales rose 25% to $6.62 billion, while enterprise computing solutions fell 2% to $1.89 billion. The company expects Q4 sales between $8.55 billion and $9.15 billion, and net income per share of $4.19 to $4.35.
A first-year engineering student from the University of Texas at Austin, Siddharth Thakur, won the Arrow Electronics People’s Choice Award in the 2021 Collegiate Inventors Competition for his creation, the Firebot. This remote-controlled search-and-rescue robot, valued at $2,000, is designed to locate people trapped in burning buildings. The competition recognized innovative projects from 20 students across 13 colleges, with participants receiving cash awards and mentorship opportunities. Arrow Electronics, with sales exceeding $29 billion in 2020, sponsors the competition, which promotes collegiate innovation.
Arrow Electronics (NYSE:ARW) announced that its cloud marketplace, ArrowSphere, has been recognized as a Strong Performer in The Forrester New Wave™: Marketplace Development Platforms, Q4 2021. The report highlights ArrowSphere's effectiveness for tier-two channel partners, stating it enhances cloud business efficiency. ArrowSphere received high marks in operations management, seller management, and pricing strategies. Kristin Russell, president of Arrow’s global enterprise computing solutions, expressed pride in the recognition, asserting it validates ArrowSphere's position in the market.