said Tuesday that it beat Wall Street's slightly lowered earnings estimates for the fiscal second quarter.
Net income was $11.6 million, or 53 cents a share. The company, a maker of disposable catheters and related products for critical and cardiac care, earned $12.2 million, or 54 cents a share, in the year-ago period.
Three analysts polled by
First Call/Thomson Financial
were calling for Arrow to earn 52 cents in the latest quarter, an estimate that was lowered from 54 cents a share at the end of February.
The company, which is based in Reading, Pa., said sales rose slightly to $80.7 million from $80.6 in the same period last year.
The company also said it expects to earn 54 cents to 55 cents in the fiscal third quarter on sales of $85 million to $87 million, but indicated that "these represent challenging projections," in part because of the strength of the dollar against the Japanese yen. A three-analyst consensus is projecting earnings of 55 cents in the third quarter.