Additionally, the company expects to record a non-cash trade name impairment charge of $46 million in connection with an initiative to further integrate two global components businesses.NON-GAAP EARNINGS PER SHARE RECONCILIATIONThe live conference call is accessible by telephone at 1-877-791-0231 (toll-free) or 1-647-689-6624 for participants outside the United States and Canada. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. The company has based these forward-looking statements on its current expectations, assumptions, estimates and projections and undertakes no obligation to update publicly or revise any of the forward-looking statements.“After careful market analysis indicating that business dynamics have changed since we entered this market, we have decided to wind down operations at our personal computer and mobility asset disposition business,” said Mr. Long. 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. Executive Summary. In addition, the company’s Board of Directors may use this non-GAAP financial information in evaluating management performance and setting management compensation.For a further discussion of factors to consider in connection with these forward-looking statements, investors should refer to Item 1A Risk Factors of the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2018.The presentation of this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for, or alternative to earnings per share on a diluted basis determined in accordance with GAAP.
The company expects to recognize approximately $45 million in costs related to cash severance as well as approximately $4 million in other non-cash asset impairments and approximately $10 million in cash contract termination costs. Data Sources. To access the live webcast, visit investor.arrow.com.“While we are disappointed that our anticipated results for the second quarter are lower than we had initially expected due to deteriorating demand conditions in the global components business, we remain confident in our long-term strategy and our ability to generate strong cash flow,” said Michael J. “This will allow us to continue to focus on our cross-enterprise strategy to enable next-generation technologies such as artificial intelligence, industrial automation, smart cities and vehicles.”In addition to disclosing financial results that are determined in accordance with accounting principles generally accepted in the United States (“GAAP”), the company also provides certain non-GAAP financial information relating to earnings per share on a diluted basis.
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The top 10 competitors average 17.3B. The conference ID is 7868437. 2020/07/16 23:49 UTC. US$5.3b. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. This non-GAAP financial information is among the primary indicators management uses as a basis for evaluating the company’s financial and operating performance. The company is also proposing to close this business in Sweden, Belgium, and the United Kingdom but will start the consultative process with employees' representatives.This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, in Q1 2020's revenue was $6.4B; in Q4 2019, it was $7.3B; in Q3 2019, it was $7.1B; in Q2 2019, Arrow Electronics's revenue was $7.3B.