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ARROW ELECTRONICS , INC . 9201 E. DRY CREEK ROAD CENTENNIAL , CO 80112 303-824-4000 NEWS Arrow Electronics Reports Second - Quarter 2021 Results -- Record Sales , Gross Profit , and Earnings per Share -- -- Announces Additional $ 600 Million Share Repurchase Authorization -- Exhibit 99.1 CENTENNIAL , Colo .-- ( BUSINESS WIRE ) -Aug 5 , 2021 -- Arrow Electronics , Inc. ( NYSE : ARW ) today reported second - quarter 2021 sales of $ 8.56 billion , an increase of 30 percent from sales of $ 6.61 billion in the second quarter of 2020. Second - quarter net income was $ 241 million , or $ 3.23 per share on a diluted basis , compared with a net income of $ 133 million , or $ 1.68 per share on a diluted basis , in the second quarter of 2020. Non - GAAP net income¹ was $ 249 million , or $ 3.34 per share on a diluted basis , in the second quarter of 2021 , compared with non - GAAP net income of $ 126 million , or $ 1.59 per share on a diluted basis , in the second quarter of 2020 . " Arrow reported record results this quarter , reflecting our constant efforts to capture new growth opportunities and harvest the benefits as leaders of information and operational technology innovation , " said Michael J. Long , chairman , president , and chief executive officer . " We believe that financial performance is directly linked to the value we deliver to customers and suppliers , making our achievement of the highest sales , gross profit and earnings per share for any quarter in Arrow's history a true testament to the hard work and commitment of our team . We look forward to driving further success for our customers , as well as all our company's stakeholders as we continue to advance our strategic priorities . " Global components second - quarter sales of $ 6.61 billion reflected an increase of 40 percent year over year and non - GAAP sales increased 36 percent year over year . Asia - Pacific components second - quarter sales increased 49 percent year over year and non - GAAP sales in the region increased 47 percent year over year . Americas components second - quarter sales increased 32 percent year over year . Europe components second - quarter sales increased 33 percent year over year and non - GAAP sales in the region increased 22 percent year over year . Global components second - quarter operating income was $ 327 million , and second - quarter non - GAAP operating income was $ 339 million . " Our commitment to helping customers bring innovative next - generation electronic products to market quickly is a key driver of our success , " continued Mr. Long . " Global components sales were above the high - end of our expectations for the fifth consecutive quarter resulting from our ability to secure additional inventory to meet strong demand . " Global enterprise computing solutions second - quarter sales of $ 1.95 billion reflected an increase of 4 percent year over year and non - GAAP sales decreased 1 percent year over year . Europe enterprise computing solutions second - quarter sales increased 19 percent year over year and non - GAAP sales in the region increased 8 percent year over year . Americas enterprise computing solutions second - quarter sales decreased 5 percent year over year . Global enterprise computing solutions second - quarter operating income was $ 81 million , and second - quarter non - GAAP operating income was $ 83 million . Mr. Long said , " We are seeing strong demand for complex software and cloud - based solutions , and our pipeline is healthy . Despite strong demand , second quarter global enterprise computing solutions performance was in - line with our expectations as shifting spending priorities and some supply constraints stood in the way of capturing upside . " " Enhancing shareholder value remains a top priority . With a strong balance sheet and liquidity position , our return on invested capital increased year over year for the fifth straight quarter , " said Chris Stansbury , senior vice president and chief financial officer . " We are pleased our strong financial returns , positive cash flow from operations , and the effective management of our balance sheet enabled us to deliver on our commitment to returning cash to shareholders through an additional $ 600 million repurchase authorization on July 21. During the second quarter , we repurchased a single - quarter record of approximately $ 250 million of shares through our stock repurchase program . Our current repurchase authorization stands at approximately $ 663 million . " ¹ A reconciliation of non - GAAP financial measures , including sales , gross profit , operating income , net income attributable to shareholders , and net income per share , to GAAP financial measures is presented in the reconciliation tables included herein .