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Arrow Electronics Management Discusses Q2 2012 Results - Earnings Call Transcript

With us on the call today are Mike Long, Chairman, President and Chief Executive Officer; Paul Reilly, Executive Vice President, Finance and Operations, and Chief Financial Officer; Andy Bryant, President, Global ECS; and Peter Kong, President, Global Components.

By now, you all should have received a copy of our earnings release. If not, you can access our release on the Investor Relations section of our website, along with the second quarter CFO commentary that should be used as a complement to the earnings press release. You can access a copy of our earnings reconciliation for the second quarter in our press release or on the Investor Relations section of our website.

Before we get started, I would like to review Arrow’s Safe Harbor statement. Some of the comments to be made on today's call may include forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons. Detailed information about these risks is included in Arrow's SEC filings. We will begin with a few minutes of prepared remarks, which will then be followed by a question-and-answer period.

As a reminder to members of the press, you are in a listen-only mode on this call, but please feel free to contact us after today's call with any questions you may have.

At this time, I would like to introduce our Chairman, President and CEO, Mike Long.

Michael J. Long

Thank you, Greer, and thanks to all of you for taking the time to join us today. We executed well in the second quarter, with revenue and earnings per share in line with our expectations even as the global macroeconomic climate weakened throughout the quarter. We continue to build the business strategically and make progress towards our corporate targets. We are investing cautiously as the macro environment continues to be challenging. We generated $61 million in cash from operations in the second quarter, and we had contributions from both business segments.

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