-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AbA5QKt2CicK95I5D0r5PyxJrk3z1q2GogvfTp3QvbryYefAdm23nRdVRUFT+YKp nnXIKQ4b6HViGr1IILtRXg== 0000950123-01-500292.txt : 20010323 0000950123-01-500292.hdr.sgml : 20010323 ACCESSION NUMBER: 0000950123-01-500292 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010320 ITEM INFORMATION: ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010322 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARROW ELECTRONICS INC CENTRAL INDEX KEY: 0000007536 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 111806155 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04482 FILM NUMBER: 1575369 BUSINESS ADDRESS: STREET 1: 25 HUB DR CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 5163911300 8-K 1 y46867e8-k.txt ARROW ELECTRONICS, INC. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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): MARCH 20, 2001 ARROW ELECTRONICS, INC. (Exact Name of Registrant as Specified in Charter) NEW YORK 1-4482 11-1806155 (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification No.) 25 HUB DRIVE, MELVILLE, NEW YORK 11747 (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (516) 391-1300 N/A (Former Name or Former Address, if Changed Since Last Report) 2 Item 5. Other Events. On March 20, 2001, Arrow Electronics, Inc. ("Arrow") issued a press release announcing that earnings for the first quarter ended March 31, 2001 would be lower than anticipated. A copy of the press release is attached as Exhibit 99.1, which is incorporated by reference under this Item 5. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits Exhibits:
Exhibit Description - ------- ----------- 99.1 Press Release dated March 20, 2001 relating to Arrow's first quarter 2001 anticipated revenues (Subject to Item 9).
Item 9. Regulation FD Disclosure On March 20, 2001, Arrow issued a press release. A copy of this press release is attached as Exhibit 99.1, which is incorporated by reference under this Item 9, and which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be filed. 3 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. Date: March 22, 2001 By: /s/ Robert E. Klatell --------------------------------- Name: Robert Klatell Title: Executive Vice President 4 EXHIBIT INDEX The following exhibits are filed herewith:
Exhibit Description - ------- ----------- 99.1 Press Release dated March 20, 2001 relating to Arrow's first quarter 2001 anticipated revenues (Subject to Item 9).
EX-99.1 2 y46867ex99-1.txt PRESS RELEASE 1 EXHIBIT 99.1 ARROW ELECTRONICS PROVIDES NEW GUIDANCE FOR FIRST QUARTER FOR IMMEDIATE RELEASE MELVILLE, NEW YORK, March 20, 2001 -- Arrow Electronics, Inc., (NYSE:ARW) today announced that revenues for the first quarter of 2001 will be lower than anticipated as a result of the well-documented slowdown currently being experienced in certain sectors of the company's customer base. "We said in early February that we had seen some significant cancellations and rescheduling of orders among the large telecom and networking companies and their contract manufacturing partners," said Francis M. Scricco, President and Chief Executive Officer of Arrow. "The fall-off in business with these customers has deepened dramatically over the last four weeks. This, coupled with weaker economic conditions generally, has caused us to revise our estimates for the first quarter," he added. "Although we expect our first quarter revenues to be up over last year's first quarter by 20%, we believe there will be a sequential decline of 10% to 15% from our reported fourth quarter sales level," Mr. Scricco said. Earnings per share for the first quarter are expected to be in the range of $.74 to $.80 cents, versus $.65 in last year's March quarter and $1.09 in the December quarter, before giving effect to the impact of the recently-completed sale of zero coupon convertible debentures and the anticipated one-time 2 special charge, not expected to be in excess of $10 million on a pre-tax basis, associated with the acquisition and integration of Wyle Electronics. Arrow Electronics is the world's largest distributor of electronic components and computer products, with 2000 sales of $13 billion. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 650 suppliers and 200,000 original equipment manufacturers, contract manufacturers, and commercial customers through more than 225 sales facilities and 20 distribution centers in 39 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 that are subject to certain risks and uncertainties which could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, changes in product supply, pricing, and customer demand, competition, other vagaries in the computer and electronic components markets, changes in relationships with key suppliers, and the other 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). Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any forward-looking statements. -----END PRIVACY-ENHANCED MESSAGE-----