Arrow Enterprise Computing Solutions, a business segment of Arrow Electronics Inc., announced its strategic alliance with IBM to distribute IBM System x in the Belgium and Luxembourg (Belux) markets.
“IBM System x strengthens our midmarket offerings and complements our IBM Software and virtualization lines,” said Bart Van Rheenen, country director for Arrow ECS’ Belgium, Netherlands, and Luxembourg operations. “We are pleased to be building on Arrow ECS’ successful relationship with IBM in many countries around the world where it distributes several IBM products, including System x. The experience that Arrow ECS has gained by distributing IBM in Belux since 1998, and in several other European countries, will enable us to implement best practices rapidly to benefit our resellers.” More information is available at www.arrowecs.be.
About Arrow Enterprise Computing Solutions
Arrow ECS, a business segment of Arrow Electronics Inc. [NYSE: ARW], provides enterprise and midrange computing products, services and solutions to value-added resellers, system integrators, and independent software vendors. Based in Englewood, Colo., and with offices in 26 countries, Arrow ECS connects its customers to the world’s foremost technology suppliers. Arrow ECS reported $4.9 billion in global enterprise computing solution sales in 2009. Visit http://ecs.arrow.com for more information.
Excerpts from a previous press release issued by Arrow ECS' parent company show that Arrow Electronics, Inc. reported second quarter 2010 net income of $116.2 million ($.97 and $.96 per share on a basic and diluted basis, respectively) on sales of $4.61 billion, compared with net income of $21.1 million ($.18 per share on both a basic and diluted basis) on sales of $3.39 billion in the second quarter of 2009.
The company's results for the second quarters of 2010 and 2009 include a number of items that outlined below impact their comparability. A complete reconciliation of these items is provided under the heading "Certain Non-GAAP Financial Information." Excluding those items, on a non-GAAP basis, net income for the quarter ended July 3, 2010 would have been $121.3 million ($1.02 and $1.01 per share on a basic and diluted basis, respectively) and net income for the quarter ended July 4, 2009 would have been $37.2 million ($.31 per share on both a basic and diluted basis).
"This was another outstanding quarter for Arrow, as we achieved record second quarter revenues and earnings per share, with cash flow generation well ahead of our expectations. Our strategic focus on sales excellence, profitable market share growth, and the expansion of value-added services and capabilities all contributed to our success," said Michael J. Long, chairman, president, and chief executive officer. "Earnings per share more than tripled year over year, substantially ahead of our revenue growth, and return on invested capital was 14.3 percent."
"The very strong results this quarter demonstrate the significant earnings capacity we have in our businesses, as operating income growth substantially outpaced sales growth on both a year-over-year and sequential basis, and our operating margin reached the highest level since the end of 2007," said Paul J. Reilly, executive vice president, finance and operations and chief financial officer. "Return on working capital increased more than two times the year-ago level reaching a new record level."
"During the quarter we repurchased $75 million of our stock leaving us with $25 million under the Board authorization. The Board has authorized management to acquire an additional $100 million bringing the total that can be spent on future buybacks to $125 million," added Reilly.
Global components sales of $3.26 billion increased 44 percent year over year. "Exceptional sales growth in all of our components regions led to record-levels of sales and operating income. Return on working capital more than doubled year over year, setting a new record also," Long said.
Global enterprise computing solutions ("ECS") sales of $1.35 billion increased 21 percent year over year. "Storage, software, services, and industry-standard servers grew at very strong double-digits rates on a year-over-year basis," said Long. "Sequential sales exceeded our expectations as here too, our focus on sales excellence and our strategic investments in key solution segments is paying off," Long added.
The company's results for the second quarters of 2010 and 2009 include the items outlined below that impact their comparability:
- Restructuring, integration, and other charges of $5.6 million ($4.1 million net of related taxes or $.03 per share on both a basic and diluted basis) in 2010 and $19.3 million ($16.1 million net of related taxes or $.13 per share on a both basic and diluted basis) in 2009.
- Loss on prepayment of debt of $1.6 million ($1.0 million net of related taxes or $.01 per share on both a basic and diluted basis) in 2010.
Six-Month Results
Arrow's net income for the first six months of 2010 was $203.2 million ($1.70 and $1.68 per share on a basic and diluted basis, respectively) on sales of $8.85 billion, compared with net income of $47.8 million ($.40 per share on both a basic and diluted basis) on sales of $6.81 billion in the first six months of 2009. Sales in the first six months of 2010 increased 30 percent year over year.
Guidance
"Looking ahead, we believe that total third quarter sales will be between $4.39 and $4.79 billion, with global components sales between $3.32 and $3.52 billion and global enterprise computing solutions sales between $1.07 and $1.27 billion. Earnings per share, on a diluted basis, excluding any charges, are expected to be in the range of $.96 to $1.06," said Reilly.
More than ever, there is a demand for IT to deliver innovation. Your IBM i has been an essential part of your business operations for years. However, your organization may struggle to maintain the current system and implement new projects. The thousands of customers we've worked with and surveyed state that expectations regarding the digital footprint and vision of the company are not aligned with the current IT environment.
TRY the one package that solves all your document design and printing challenges on all your platforms. Produce bar code labels, electronic forms, ad hoc reports, and RFID tags – without programming! MarkMagic is the only document design and print solution that combines report writing, WYSIWYG label and forms design, and conditional printing in one integrated product. Make sure your data survives when catastrophe hits. Request your trial now! Request Now.
Forms of ransomware has been around for over 30 years, and with more and more organizations suffering attacks each year, it continues to endure. What has made ransomware such a durable threat and what is the best way to combat it? In order to prevent ransomware, organizations must first understand how it works.
Disaster protection is vital to every business. Yet, it often consists of patched together procedures that are prone to error. From automatic backups to data encryption to media management, Robot automates the routine (yet often complex) tasks of iSeries backup and recovery, saving you time and money and making the process safer and more reliable. Automate your backups with the Robot Backup and Recovery Solution. Key features include:
Business users want new applications now. Market and regulatory pressures require faster application updates and delivery into production. Your IBM i developers may be approaching retirement, and you see no sure way to fill their positions with experienced developers. In addition, you may be caught between maintaining your existing applications and the uncertainty of moving to something new.
IT managers hoping to find new IBM i talent are discovering that the pool of experienced RPG programmers and operators or administrators with intimate knowledge of the operating system and the applications that run on it is small. This begs the question: How will you manage the platform that supports such a big part of your business? This guide offers strategies and software suggestions to help you plan IT staffing and resources and smooth the transition after your AS/400 talent retires. Read on to learn:
LATEST COMMENTS
MC Press Online