Arrow Electronics' Fourth Quarter Net Income Advances 83% over Prior Year ----Sales Rise 12%----.

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Arrow Electronics' Fourth Quarter Net Income Advances 83% over Prior Year ----Sales Rise 12%----.

MELVILLE, N.Y. -- Arrow Electronics, Inc. (NYSE:ARW) today reported fourth quarter 2004 net income of $47.7 million ($.41 and $.40 per share on a basic and diluted basis, respectively) on sales of $2.72 billion, compared with net income of $26.0 million ($.26 per share) on sales of $2.43 billion in the fourth quarter of 2003. "Our ongoing commitment to operational excellence and continuous process improvement drove a nearly doubling of net income when compared to last year's fourth quarter," said William E. Mitchell, President and Chief Executive Officer of Arrow, "with cash flow from operations in excess of $270 million."

The company's results for the fourth quarters of 2004 and 2003 include a number of items outlined below that impact their comparability. A reconciliation of these items is provided under the heading "Certain Non-GAAP Financial Information." Excluding those items, net income for the quarter ended December 31, 2004 would have been $59.9 million ($.52 and $.50 per share on ...

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