Slide 1: Third-Quarter 2012 CFO Commentary
Exhibit 99.2 Third-Quarter 2012 CFO Commentary As reflected in our earnings release, there are a number of items that impact the comparability of our results with those in the trailing quarter and the third quarter of last year. Any discussion of our results will exclude these items to give you a be
Slide 2: Consolidated Overview – Third Quarter
Consolidated Overview – Third Quarter Y/Y Y/Y Change Q/Q P&L Highlights* Q3 2012 Change Pro Forma Change Sales $4,962 -4% -7% -4% Gross Profit Margin 13.4% -40bps -50bps +10bps Operating Expense/Sales 9.8% +30bps Flat +30bps Operating Income $178.4 -18% -20% -12% Operating Margin 3.6% -60bps -60bps
Slide 3: Global Components
Global Components Sales ($ in millions) · Sales decreased 8% year over year and 2% sequentially o Pro forma for acquisitions and excluding the impact of both foreign currency and the aforementioned change in revenue presentation, sales in global components were flat year over year and increased 2% s
Slide 4: Americas Components Region
Americas Components Region Sales ($ in millions) · Sales decreased 1% year over year and 3% sequentially o Pro forma for acquisitions, sales decreased 2% year over year and 3% on a sequential basis o Sales slightly below normal seasonality on a sequential basis § Somewhat weaker overall market as we
Slide 5: Europe Components Region
Europe Components Region Sales ($ in millions) · Sales declined 30% year over year and 15% sequentially o Pro forma for acquisitions and excluding the impact of both foreign currency and the aforementioned change in revenue presentation, sales declined 5% year over year and increased 1% sequentially
Slide 6: Asia Pacific Components Region
Asia Pacific Components Region Sales ($ in millions) · Sales increased 10% year over year and 12% sequentially o Pro forma for acquisitions, sales increased 7% year over year o Sales in our core Asia business were in line with normal seasonality § Core Asia sales increased 13% year over year o Ultra
Slide 7: Global Enterprise Computing Solutions
Global Enterprise Computing Solutions Sales ($ in millions) · Sales increased 3% year over year and declined 6% sequentially o Record third quarter revenue o Pro forma for acquisitions and excluding the impact of foreign currency, sales increased 2% year over year and declined 10% sequentially § 11t
Slide 8: ECS America
ECS America Sales ($ in millions) · Sales increased 1% year over year and declined 8% sequentially o Sales in our core value-added distribution business in line with expectations in a seasonally slow quarter · Robust double-digit year-over-year growth in software (+21%) and storage (+12%) o Networki
Slide 9: ECS Europe
ECS Europe Sales ($ in millions) · Sales increased 10% year over year and decreased 3% sequentially o Pro forma for acquisitions and excluding the impact of foreign currency, sales increased 4% year over year and declined 14% sequentially o Strength in the UK and Nordic region · Organic sales growth
Slide 10: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights · Cash Flow from Operations We generated $176 million in cash from operations in the third quarter. Over the last twelve months we have generated more than $634 million in cash flow from operations and converted 125% of our GAAP net income to cash, significantl
Slide 11: Arrow Electronics Revenue Seasonality
Arrow Electronics Revenue Seasonality* Global Components NAC EMEA ex FX AAP Q1 -2% to +4% +13% to +19% -1% to +5% Q2 -3% to +3% -5% to -11% +4% to +10% Q3 -2% to +4% -5% to +1% +3% to +9% Q4 -4% to +2% -3% to -9% -1% to -7% Global ECS NA EMEA ex FX Q1 -28% to -34% -21% to -27% Q2 +20% to +26% +1% to
Slide 12: Risk Factors
Risk Factors The discussion of the company’s business and operations should be read together with the risk factors contained in Item 1A of its 2011 Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which describe various risks and uncertainties to which the company is or
Slide 13: Earnings Reconciliation
Earnings Reconciliation ($ in thousands, except per share data) Q3 2012 Q2 2012 Q3 2011 Operating income, as Reported $ 163,817 $ 188,689 $ 209,162 Restructuring, integration, and other charges 14,562 13,347 8,848 Operating income, as Adjusted $ 178,379 $ 202,036 $ 218,010 Net income attributable to