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OVERSUPPLY OF ELECTRONICS PROVES ARROW'S ARCHENEMY: GIANT DISTRIBUTOR'S INCOME, SHARES DROP; TRYING ACQUISITIONS, SERVICE UPGRADES.
Crain's New York Business, March, 1999 by Luhby, Tami
Despite its size and status, Arrow Electronics Inc. has been missing the mark. With $8.3 billion in sales last year, Arrow is the world's largest electronic components distributor and Long Island's largest company in terms of revenues. The nation's business leaders rank it among the most admired wholesalers, according to Fortune magazine.
But this has not helped Arrow -- or its peers in the components industry -- weather an oversupply of semiconductors and other electronic parts. Prices for these components have plummeted 20% a year for the past three years. Warned analysts before Arrow reported last week that its net income fell 29% in 1998, though its annual sales nudged up slightly. The Melville, L.I.-based company had warned analysts three times...
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