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RS Group has reported sales up 21 % year on year to £1.46 billion in the first half of its 2022/23 financial year. Profit soared 35 % to £196.1 million. David Egan (pictured), Acting Chief Executive commented: “We have delivered a strong revenue and profit performance in the first half as our differentiated proposition continues …
Arrow Electronics, Inc. (NYSE:ARW) today reported third-quarter 2022 sales of $9.27 billion, an increase of 9 percent year over year, and an increase of 14 percent year over year on a constant currency basis1. Third-quarter net income was $342 million, or $5.27 per share on a diluted basis, compared with net income of $290 million, …
RS Group – formerly Electrocomponents – announced that CEO Lindsley Ruth will take a leave of absence with immediate effect for personal reasons, and released its earnings for the first half of its fiscal year. In Ruth’s absence, a management structure is in place to ensure continuity and maintain momentum in the execution of the group’s …
Ocean spot rates outside the Asian market remained stable the last week of October, according to cargo marketplace Freightos. An increase in blanked sailings by large carriers may be combining with the reported departure of smaller carriers from the transpacific lanes – as falling rates and rising costs threaten the viability of operations there, especially …
Most electronics manufacturing industry executives see a recession as inevitable, according to electronics trade group IPC. That echoes sentiments by analysts who presented at the ECIA Executive Conference in late October. “There’s a 60 to 70 percent chance of a U.S. recession,” said Cliff Waldman, CEO of New World Economics LLC, at the conference. Recession …
New Yorker Electronics has signed a new franchise distribution agreement with Houston, Texas-based GETT North America. GETT is a leading manufacturer of professional operating technology, such as computer keyboards and mice for the industrial and medical market. The GETT Group was founded in Germany in 1996 and is still run by German engineers who design …
Arrow Electronics has reported third-quarter 2022 sales of $9.27 billion, an increase of 9 % year over year. Third-quarter net income was $342 million compared with net income of $290 million in the third quarter of 2021. “I am pleased to report that this was our best third quarter ever. This is a product of …
Allied Electronics & Automation, a trading brand of RS Group plc (LSE: RS1), a global omni-channel provider of product and service solutions, bid farewell to President Ken Bradley, who left the company to pursue a new opportunity at the end of October. RS Group’s Chief Services Officer, Douglas Moody, is expanding his role on an interim basis …
Semiconductor supply assurance continues to be a priority in the electronics industry. Texas Instruments (TI) (Nasdaq: TXN) today announced a major step forward to help manufacturers get the products they need, introducing a suite of application programming interfaces (APIs) that provide unprecedented access to accurate, real-time inventory information about available TI analog and embedded processing …
The pace of U.S. manufacturing growth in October hit its lowest level in more than two years as new orders remained in contraction territory, backlog fell and demand for exports receded. The Institute for Supply Management’s October PMI registered 50.2 percent, 0.7 percentage point lower than September’s level of 50.9 percent. That’s the lowest figure …