Distributor Arrow Electronics has insisted its third-quarter performance was executed well in light of the slow global economy, but blamed the UK for lower European results in its Enterprise Computing Solutions (ECS) division.
For the quarter to 28 September, Arrow's global sales were boosted two per cent annually to $5.05bn (£3.14bn) while net income slid seven per cent to $96.8m.
The ECS division's sales fell by one per cent annually to $1.58m, driven by a nine per cent slump in sales from Europe which it attributed to "a push out of activity in the UK". The Americas region buoyed ECS' performance somewhat, with sales creeping up three per cent year on year.
Its Global Components segment fared slightly better in Arrow's Q3 after sales grew three per cent annually to $3.45bn.
In its fourth quarter, Arrow expects its total sales to come in between $5.6bn and $6bn.
The firm's chairman Michael Long said he was pleased with his company's performance this quarter, especially in the face of the uncertain global economy.
"We again produced excellent results in the third quarter," he said.
"In a global macro-environment that remains unsettled, we continue to execute well, striking the right balance between maximising our performance in the short term and investing in our long-term strategy. In addition to growing the business and expanding margins, we invested in acquisitions that will accelerate our growth."
Yesterday, Arrow's recent €230m (£317m) buy of rival distie Computerlinks was finalised.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business