SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 12 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 12, 1999
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ARROW ELECTRONICS, INC.
(Exact Name of Registrant as Specified in Charter)
New York 1-4482 11-1806155
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(State or Other Juris- (Commission File (IRS Employer
diction of Incorporation) Number) Identification No.)
25 Hub Drive, Melville, New York 11747
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(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code: (516) 391-1300
<PAGE>
Item 5. Other Events.
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On January 12, 1999, Arrow Electronics, Inc. announced that its
earnings for the fourth quarter of 1998 are likely to be below analysts'
expectations.
Item 7. Financial statements, Pro Forma Financial Information and Exhibits
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(a) Not applicable.
(b) Not applicable.
(c) Exhibit 99 (i) Press Release dated January 12, 1999, issued by Arrow
Electronics, Inc. announcing that its earnings for the fourth quarter
of 1998 are likely to be below analysts' expectations.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ARROW ELECTRONICS, INC.
Dated: January 12, 1999 By: /s/Robert E. Klatell
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Name: Robert E. Klatell
Title: Executive Vice President
<PAGE>
EXHIBIT INDEX
Exhibit Page #
99 Press Release dated January 12, 1999, issued
by Arrow Electronics, Inc. announcing that
its earnings for the fourth quarter of 1998
are likely to be below analysts' expectations.
ARROW ELECTRONICS, INC.
25 Hub Drive
Melville, New York 11747-3409
ARROW ELECTRONICS ANTICIPATES LOWER FOURTH QUARTER EARNINGS
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FOR IMMEDIATE RELEASE
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MELVILLE, NEW YORK, January 12, 1999 -- Arrow Electronics, Inc.
(NYSE:ARW) announced that fourth quarter earnings are likely to be
below analysts' expectations. The company indicated that the decrease
in earnings was principally attributable to lower than expected sales
in Northern and Central Europe, coupled with continued pressure on gross
profit margins in the company's North American components operations and
certain Asian markets. Gates/Arrow Distributing, the Arrow subsidiary
that distributes computer products in North America, continued to operate
at satisfactory levels and reported sales and operating income ahead of
the third quarter.
Based upon preliminary results for the quarter, the company believes
that fourth quarter earnings are expected to be between $.30 and $.35
per share on a fully diluted basis. This compares with $.37 per share
in the third quarter of 1998 and $.53 per share in the fourth quarter
of 1997.
Arrow Electronics is the world's largest distributor of electronic
components and computer products, with 1997 sales of $7.8 billion.
Headquartered in Melville, New York, Arrow serves as a supply channel
partner for more than 600 suppliers and 160,000 original equipment
manufacturers and commercial customers through more than 200 sales
facilities and 26 distribution centers in 32 countries. Detailed
information about Arrow's operations can be found at www.arrow.com.
# # #
CONTACT: Robert E. Klatell
Executive Vice President
516-391-1300
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. This press release
contains forward-looking statements based on current expectations
that could be affected by the risks and uncertainties involved in
the company's business. These risks and uncertainties include, but
are not limited to, the effect of economic and market conditions,
opportunities for acquisitions and the company's ability to
effectively integrate acquired companies, risks associated with
foreign operations, such as currency fluctuations, possible
increases in shipping rates or interruptions in shipping service,
the addition or loss of suppliers, allocation of products by
suppliers, changes in market demand and pricing pressure, the level
and volatility of interest rates, the impact of current or pending
legislation and regulations, fluctuation in quarterly results, as
well as the risks described from time to time in the company's
reports to the Securities and Exchange Commission, including the
company's Annual Report on Form 10-K.
