Arrow Electronics, Inc. announced its financial results for the first quarter ended March 31, 2018. Net sales for Q1 2018 were $6.88 billion, an increase of 20%, compared to $5.74 billion in Q1 2107. Net income for Q1 2018 was $139.09 million, an increase of 20.8%, compared to $114.73 million in Q1 2017.
In the first quarter of 2018, Arrow Electronics has seen significant growth in both of its business segments. Global Components recorded sales of $4.93 billion, an increase of 21%, compared to adjusted sales of $4.06 billion in Q1 2017 whereas Global Enterprise Computing Solutions (GECS) grew to $1.95 billion, an increase of 16%, compared to adjusted sales of $1.68 billion in Q1 2017.
Looking forward to guidance for second quarter 2018, company believes that total sales will be in the range of $7 billion to $7.4 billion, with Global Components sales between $5 billion and $5.2 billion, and Global Enterprise Computing Solutions sales between $2 billion and $2.2 billion.
