Feeds

Articles about Michael Long

Enterprise tech market returning, says Arrow CEO Long

Enterprise tech buyers may have started to shake off the residual effects of the recession, judging by the fortunes of sector bellwether Arrow Electronics, whose numbers came in at the high end of expectations. Turnover for the second quarter of fiscal 2013, ended 29 June, went up three per cent to $5.3bn. However it was the …
Paul Kunert, 25 Jul 2013

Arrow: global macro still 'unsettled" as profits dip

Just when you thought it was safe to mouth the words distributor and expanding profits in the same breath, Arrow Electronics has rolled out financials for calendar Q3 that show some bottom line slippage. The numbers for the three months ended September weren't bad per se, but after CEO Michael Long said last quarter that "large …
Paul Kunert, 30 Oct 2013
euros_channel_money

Arrow Electronics engulfs hefty data centre player in €230m gobble

Serial swallower Arrow Electronics has wolfed down security and network distie Computerlinks (C'links) in a deal valued at €230m (£198m). Word on the street was that US-based giant Arrow had been locked in buyout talks with the privately-owned, Germany-based player earlier in the summer, but the deal was only confirmed late last …
Paul Kunert, 28 Aug 2013

Arrow tightens belt yet another notch, vows to shed $75m in costs in 2013

The powers that be at Arrow have found another $35m worth of savings to lop off this year as it tries to match costs with the market realities. One of the big four global wholesalers - Ingram Micro, Tech Data and Avnet Inc constitute the others - Arrow reported a one per cent decline in calendar Q1 sales to $4.85bn. Flat is the …
Paul Kunert, 02 May 2013
Arrow_Global_Logo

Another year, another $40m: Arrow Electronics to cut costs AGAIN

Arrow Electronics warned that it needs to hack out $40m of costs amid concerns of significant shrinkage in economies on both sides of the Atlantic. The enterprise distie took the covers off full-year 2012 numbers that showed a 15.4 per cent year-on-year slide in net profits to $506.3m and a 4.6 per cent dip in turnover to $20. …
Paul Kunert, 07 Feb 2013

Arrow profits quiver as Q1 sales misfire

Arrow Electronics' Q1 profits have been derailed by restructuring charges and weaker than expected sales of components in Europe and Asia. The enterprise distie giant reported a bottom line of just $113.6m (£70.1m), down 16.6 per cent compared to the same quarter a year ago, on the back of sales of $4.9bn (£3.02bn), a drop of 6. …
Paul Kunert, 01 May 2012
Arrow_Global_Logo

Arrow Electric CEO: Sales dip, profits fall but it's no 'overall disaster'

Arrow Electronics stopped well short of saying the recession has bottomed out as its components arm continues to wrestle with a tough biz climate, but an air of optimism hung over senior management. Sales at the distie titan fell 4 per cent to $4.96bn, but this excluded $176.5m of services contracts now to be recognised on an …
Paul Kunert, 01 Nov 2012
homeless man with sign

Arrow Electronics sales and profits up in Q3

Distribution juggernaut Arrow Electronics ploughed through Q3 with sales and profits up by double digits. The US firm, which recorded an 11 per cent rise in turnover to $5.19bn (£3.26bn) and an 11.5 per cent climb in profits to $132.2m (£83.1m) for the period ended 1 October, is now planning to beef up its vendor and services …
Paul Kunert, 26 Oct 2011
channel

Arrow warns on tightening component sales

Global distributor Arrow Electronics has warned Q3 forecasts will fall short of analyst expectations as it is anticipating a slowdown in components shipments. The distribution heavyweight today reported a 20 per cent hike in sales to $5.54bn, up 6 per cent sequentially for Q2 ended 2 July, but excluding the currency headwind and …
Paul Kunert, 27 Jul 2011
The Register breaking news

Land of cheese adopts internet download tax

With many US states scrambling to fix major budget shortfalls, legislators are taking an added interest in taxes on digital music, videos, and software. Wisconsin today followed in the footsteps of New York State by passing a stimulus bill that includes a measure for adding sales tax to digital downloads starting October 1. The …
Austin Modine, 19 Feb 2009
globalisation

System sales might have hit bottom

The two key master distributors of servers and storage, Avnet and Arrow Electronics, reported their financial results for their most recent quarters. Both companies are hoping that the server market has finally hit bottom. Avnet Avnet closed out its fiscal 2009 year on June 27, and says that in the fourth quarter it saw a gut- …