8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 9, 2007

Nu Horizons Electronics Corp.

(Exact name of registrant as specified in its charter)

 DELAWARE (State or other jurisdiction of incorporation)  1-8798 (Commission File Number)  11-2621097 (I.R.S. Employer Identification No.)

70 Maxess Road, Melville, New York (Address of principal executive offices)  11747 (Zip Code)

(631) 396-5000

Registrant's telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-14(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition..

On July 9, 2007, the Registrant issued a press release announcing the Registrant’s financial results for the fiscal quarter ended May 31, 2007. A copy of the Registrant’s press release is attached hereto as Exhibit 99.1.

Item 9.01.Financial Statements and Exhibits.

(d)Exhibits.

The following exhibits are filed herewith:

Exhibit No.Description

99.1Press release dated July 9, 2007

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.

	Nu Horizons Electronics Corp. (Registrant)
Date: July 11, 2007	By:	/s/ Kurt Freudenberg
		Name: Kurt Freudenberg
		Title: Chief Financial Officer

EX-99.1

70 Maxess Road  Melville, NY 11747

631-396-5000  Fax: 631-396-5060

FOR IMMEDIATE RELEASE

NU HORIZONS ELECTRONICS CORP. REPORTS

FINANCIAL AND OPERATING RESULTS FOR THE

FIRST QUARTER OF FISCAL YEAR 2008

MELVILLE, NY, July 9, 2007--- Nu Horizons Electronics Corp. (Nasdaq/NM: NUHC), a leading distributor of active and passive electronic components today reported financial and operating results for the first quarter of fiscal 2008, reflecting the period ended May 31, 2007.

Net sales for the quarter ended May 31, 2007 increased to $192,327,000 as compared to $187,760,000 for the prior year’s fiscal period, an increase of 2.4%. Net income for the quarter was $1,814,000 or $.10 per diluted share as compared to net income of $3,175,000 or $.17 per diluted share for the first quarter of the prior year. Sequentially, net sales for the quarter ended May 31, 2007 increased approximately $22,200,000, or 13%, from $170,101,000 and earnings increased to $.10 per diluted share from $.05 per diluted share.

For the quarter ended May 31, 2007 compared to the first quarter of the prior year, our sales of systems (servers, boards, storage and software) declined approximately $17,000,000 primarily due to the loss of business with certain large customers. Excluding systems sales, our core electronics distribution sales for the first quarter increased $21,963,000, or 14%, over the prior year same quarter. Core electronics distribution sales in the current quarter were negatively impacted by a general softness in the passive component market due to over-capacity.

Arthur Nadata, Chairman of the Board and Chief Executive Officer stated, "Despite our disappointment in decreased systems sales, we are pleased to see continued improvement in our core electronics distribution business and are encouraged by the sequential improvement in our business."

Mr. Nadata concluded, "We are continuing with our global growth strategy and we are enthusiastic about the completion of our acquisition in Germany which provides Nu Horizons with an opportunity to achieve significant growth in Europe, particularly in the German marketplace."

A conference call to further discuss earnings will be held today at 4:15 pm ET. The call can be accessed by dialing 1-800-475-3716, (international, dial 1-719-457-2728). A rebroadcast of the call will be available beginning at 7:00 pm ET at (888)-203-1112 (international, dial 1- 719-457-0820) Please refer to confirmation code 8954832. A webcast of the call will also be available, online (both live and after the call), at www.nuhorizons.com.

NUHC Reports First Quarter Fiscal 2008 Results  Page 2

About Nu Horizons Electronics Corp.

Nu Horizons Electronics Corp. is a leading global distributor of advanced technology semiconductor, display, illumination and system solutions to a wide variety of commercial original equipment manufacturers (OEMs) and electronic manufacturing services providers (EMS). With sales facilities in 51 locations across North America, Europe and Asia and regional logistics centers throughout the globe, Nu Horizons partners with a limited number of best-in-class suppliers to provide in-depth product development, custom logistics and life-cycle support to its customers. Information on Nu Horizons and its services is available at http://www.nuhorizons.com.

Except for historical information contained herein, the matters set forth in this news release are forward looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to Nu Horizons or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Nu Horizons’ management, as well as assumptions made by and information currently available to its management including with respect to financial condition, results of operations, growth strategy and liquidity. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as the level of business and consumer spending for electronic products, the amount of sales of the Company’s products, the competitive environment within the electronics industry, the ability of the Company to integrate its recently acquired European operations, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company’s expansion efforts and the financial strength of the Company’s customers and suppliers. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission. The Company does not undertake any obligation to update its forward-looking statements.

Company Contact:

Kurt Freudenberg, Chief Financial Officer

Nu Horizons Electronics Corp.

kurt.freudenberg@nuhorizons.com

631-396-5000

(Tables Follow)

NUHC Reports First Quarter Fiscal 2008 Results  Page 3

NU HORIZONS ELECTRONICS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

(UNAUDITED)

	For The Three Months Ended
	May 31, 2007			May 31, 2006
NET SALES	$	192,327,000		$	187,760,000
COSTS AND EXPENSES:
Cost of sales		162,789,000			159,470,000
Operating expenses		25,597,000			22,123,000
		188,386,000			181,593,000
OPERATING INCOME		3,941,000			6,167,000
OTHER (INCOME) EXPENSE:
Interest (income)		(15,000	)		(61,000	)
Interest expense		928,000			962,000
		913,000			901,000
INCOME BEFORE PROVISION FOR INCOME TAXES AND MINORITY INTERESTS		3,028,000			5,266,000
Provision for income taxes		1,124,000			1,956,000
INCOME BEFORE MINORITY INTERESTS		1,904,000			3,310,000
Minority interest in earnings of subsidiaries		90,000			135,000
NET INCOME	$	1,814,000		$	3,175,000
NET INCOME PER COMMON SHARE
Basic	$	.10		$	.18
Diluted	$	.10		$	.17
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic		18,217,603			17,596,232
Diluted		19,046,335			18,293,721

(more)

NUHC Reports First Quarter Fiscal 2008 Results  Page 4

NU HORIZONS ELECTRONICS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS

	May 31, 2007			February 28, 2007
	(unaudited)
- ASSETS -
CURRENT ASSETS:
Cash	$	3,787,000		$	4,747,000
Accounts receivable - net of allowance for doubtful accounts of $4,921,000     and $4,985,000, respectively		128,999,000			119,946,000
Inventories		134,072,000			119,311,000
Prepaid expenses and other current assets		3,872,000			4,454,000
TOTAL CURRENT ASSETS		270,730,000			248,458,000
PROPERTY, PLANT AND EQUIPMENT - NET		4,857,000			3,381,000
OTHER ASSETS:
Cost in excess of net assets acquired		8,332,000			8,332,000
Other assets		4,851,000			4,055,000
	$	288,770,000		$	264,226,000
- LIABILITIES AND SHAREHOLDERS’ EQUITY -
CURRENT LIABILITIES:
Accounts payable	$	61,815,000		$	62,410,000
Accrued expenses		7,611,000			8,579,000
Bank credit line		2,693,000			2,327,000
Income taxes payable		5,261,000			3,927,000
TOTAL CURRENT LIABILITIES		77,380,000			77,243,000
LONG TERM LIABILITIES:
Revolving credit line		52,200,000			30,000,000
Due to seller		3,378,000			3,378,000
Deferred income taxes		2,422,000			2,369,000
TOTAL LONG TERM LIABILITIES		58,000,000			35,747,000
MINORITY INTEREST IN SUBSIDIARIES		2,002,000			1,912,000
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred stock, $1 par value, 1,000,000 shares authorized; none issued or     outstanding		-			-
Common stock, $.0066 par value, 50,000,000 shares authorized; 18,357,087 and 18,158,034 shares issued and outstanding for May 31, 2007     and February 28, 2007, respectively		121,000			120,000
Additional paid-in capital		50,961,000			50,670,000
Retained earnings		100,335,000			98,521,000
Other accumulated comprehensive (loss) income		(29,000	)		13,000
TOTAL SHAREHOLDERS' EQUITY		151,388,000			149,324,000
	$	288,770,000		$	264,226,000

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