ARW FY 2013 Earnings Report — Arrow Electronics, Inc. Revenue & Financial Results | Market Cap Arena

Arrow Electronics, Inc.ARW

FY 2013 Earnings

Reported February 5, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$21.4B	—	$20.4B	—	4.7%
Op. Income	$694M	—	$804M	—	-13.8%
Gross Margin	13.1%	—	13.4%	—	-0.3pp
Net Margin	1.9%	—	2.5%	—	-0.6pp
EPS (Diluted)	$3.85	—	$4.56	—	-15.6%
Free Cash Flow	$335M	—	$563M	—	-40.6%

Revenue Flow

Item	Amount
REVENUE	$21.4B
Cost of Revenue	$18.6B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.9B
SG&A Expenses	$1.9B
Other Expenses	-$4M
Operating Expenses	$2.0B
Cost & Expenses	$20.6B
OPERATING INCOME	$694M
Interest Income	$0
Interest Expense	$114M
Other Income/Expenses	-$111M
INCOME BEFORE TAX	$582M
Income Tax Expense	$182M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$399M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$399M
D&A	$131M
EBIT	$697M
EBITDA	$917M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$21.4B
Cost of Revenue	$18.6B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.9B
SG&A Expenses	$1.9B
Other Expenses	-$4M
Operating Expenses	$2.0B
Cost & Expenses	$20.6B
OPERATING INCOME	$694M
Interest Income	$0
Interest Expense	$114M
Other Income/Expenses	-$111M
INCOME BEFORE TAX	$582M
Income Tax Expense	$182M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$399M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$399M
D&A	$131M
EBIT	$697M
EBITDA	$917M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$400M
Depreciation & Amortization	$131M
Stock-Based Compensation	$37M
Deferred Income Tax	$273.0K
Other Non-Cash Items	$55M
Change in Working Capital	-$172M
OPERATING CASH FLOW	$451M
Capital Expenditure	-$116M
Acquisitions (Net)	-$368M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$487M
Net Debt Issuance	$293M
Common Stock Repurchased	-$363M
Common Dividends Paid	$0
Other Financing Activities	$43M
NET CASH FROM FINANCING	-$27M
FREE CASH FLOW	$335M
Net Change in Cash	-$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$391M
Short-Term Investments	$0
Net Receivables	$5.8B
Inventory	$2.2B
Other Current Assets	$258M
TOTAL CURRENT ASSETS	$8.6B
PP&E (Net)	$632M
Goodwill	$2.0B
Intangible Assets	$426M
Long-Term Investments	$67M
Tax Assets	$2.0B
Other Non-Current Assets	$310M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$12.1B
Account Payables	$4.5B
Short-Term Debt	$24M
Deferred Revenue	$0
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$348M
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$7.9B
Common Stock	$125M
Additional Paid-In Capital	$1.1B
Retained Earnings	$3.7B
Treasury Stock	-$921M
Accum. Other Comp. Income	$226M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$5M
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$12.1B
Total Debt	$2.3B
Net Debt	$1.9B