Arrow Electronics sees Q1 EPS ex-charges 80c-92c, consensus 89c Sees Q1 revenue $4.6B-$5B, consensus $4.84B. The company said, "Looking ahead to the first quarter of 2013, there remains economic uncertainty in the United States due to the ongoing fiscal cliff and budget negotiations. Fourth-quarter U.S. GDP numbers showed the first contraction in the U.S. economy in over three years. The Euro Zone’s economy also contracted in the fourth quarter and there are no meaningful signs of improvement for the near term. In light of these negative economic indicators, the company remains cautious in the outlook for business activity in the first quarter and would expect less than normal seasonality in the global components business. With this economic uncertainty as a backdrop, the company is embarking on an incremental productivity enhancement program that will include expense reductions of $40M on an annual basis."
Arrow Electronics announces additional $200M share repurchase program Arrow Electronics announced the approval by the company’s board of directors of the repurchase of up to an additional $200M of common stock through a share repurchase program. The company has spent approximately $1.2B on share repurchases since the beginning of 2010 and this action will permit the company to continue repurchasing shares of its common stock as market and business conditions warrant.